Tuesday, December 23, 2008

California's Casinos Take Hit in this recession.

The recession hits everyone. Conventional wisdom in the past said that casinos were recession proof, but that's proving to be not the case.

Fresno Bee has an article on the casinos in CA.

California casinos aren't seeing big declines, experts speculate, but they aren't seeing much growth either. While local casinos may be getting some customers who can't afford Las Vegas, they also are finding gamblers less willing to ante up.

Some customers have been driven away by the lawlessness at tribal casinos and more are becoming aware that you lose many of your rights when you step onto Indian Reservations.

Las Vegas and other destination spots -- including large Southern California tribal casinos -- have taken the brunt of the economic punch, experts say. About seven out of 10 industry experts and analysts surveyed recently by the American Gaming Association said that tribal casinos have been affected less by the downturn than commercial casinos.

Pechanga Casino has reduced their employees by 800 from their high of 5100 workers, recently laying off 400. Couple that with reduced traffice due to closures of their nightclubs due to thuggish behavior of their young people and that means less money coming in.

People are finding that gambling is NOT their only entertainment option.

Read more at the link.
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