RSS 2.0 FeedVol. 3, No. 9, September 2007, Tumbling Dice
Stunted Growth
Judging by revenue growth in the first half of 2007, Nevada’s casinos won’t come close to seeing the increase in gaming win they have become accustomed to over the past several years.
While casinos saw increases of 8 percent from 2005 to 2006, and 10 percent from 2004 to 2005, the jump from 2006 to 2007 doesn’t look like it will exceed 2 percent by much, if any. The first half of the year saw only a 2.1 percent increase over the same period from the previous year. First half growth is fairly indicative of yearly growth.
“What were seeing in the first half of the calendar year is that things have really slowed down, definitely on the slot side,” said Frank Streshley, Nevada Gaming Control Board senior research analyst. “I think we’ll see this trend continue over the next six months as well.
“There were no major new property openings in the fiscal year and we’re not going to see another new opening until late this year.”
While casinos saw increases of 8 percent from 2005 to 2006, and 10 percent from 2004 to 2005, the jump from 2006 to 2007 doesn’t look like it will exceed 2 percent by much, if any. The first half of the year saw only a 2.1 percent increase over the same period from the previous year. First half growth is fairly indicative of yearly growth.
“What were seeing in the first half of the calendar year is that things have really slowed down, definitely on the slot side,” said Frank Streshley, Nevada Gaming Control Board senior research analyst. “I think we’ll see this trend continue over the next six months as well.
“There were no major new property openings in the fiscal year and we’re not going to see another new opening until late this year.”
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