US online casinos affected by US economic downturn
according to a Reuters report. The industry that is generally
considered to be recession proof, is starting to be effected by the recent
slow down of the economy in the USA.
Over the last few years the gaming industry, which includes
online casinos,
online bingo sites and online
poker rooms, has seen a huge expansion with growth showing gambling revenue climbing to US$32 million. However, recessionary fears in the US seem to have caused a tightening of
expenditures by
gaming site operators
American gaming operator, Harrah's Entertainment, recently
declared weak quarterly earnings and is describing the recent economic environment as "challenging".
Pinnacle Entertainment, which operates a number of US casinos. said progress in some of its projects now hinged on improved access to credit financing. In the current credit crunch this may prove
to be problematic.
Online casinos operating out of the UK are also affected
by the economic slowdown in US, the news may reflect a general trend
by those who play casino games towards a tendency to
lower their online casino spendings.
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