Amidst fears that a slumping economy would cause falling attendance and lower sales, the gaming industry’s most important trade show, Global Gaming Expo (G2E) was held last month in Las Vegas.

To the relief of show organizers and exhibitors alike, attendance was down only slightly—just 7 percent, according to show co-owner the American Gaming Association—while the quality of the attendees was at least as good as last year.

Most exhibitors were happy to the see the important decision-makers strolling the show floor. While some were struggling with shrunken or empty budgets, their appearance at the show helped to give vendors confidence that the industry would rebound once the economy gets straightened out.

Still, the message delivered by virtually every operator was dismal.

“All of our companies, if you talk to their CEOs, they will tell you, they are tightening their belts,” said Frank Fahrenkopf, president and CEO of the American Gaming Association.

During G2E’s annual “State of the Industry” panel, Harrah’s CEO Gary Loveman told the audience that the industry was spending money like “drunken sailors” before the economic downturn hit.

He expressed confidence that the industry would recover, but only after “a significant sea change in the way in which the balance sheets of these businesses are structured.”

MGM Mirage CFO Dan D’Ariggo said he didn’t expect to see any new casino construction on the Las Vegas Strip for at least five years.

But it wasn’t all doom and gloom at this year’s G2E. A massive after-show party at the Orleans Arena, featuring a performance by singer Kenny Loggins, drew thousands of guests lured by invitations from members of the Association of Gaming Equipment Manufacturers (AGEM). The event replaced the individual parties that each member once staged.

The 9th annual conference of the National Center for Responsible Gaming presented some groundbreaking treatment options for problem gambling. Attendance at the meeting, held in conjunction with G2E, was level with last year.

And for the first time, Casino Design, a conference dedicated to the design and construction of casino resorts, was held the day before G2E. Attendance was up over last year, when it was held in New Orleans in the spring.     The highlight of the Casino Design conference was the presentation of the AGA Casino Design Awards. MGM Grand Detroit was named the top new casino, and designer David Rockwell accepted the Jay Sarno Lifetime Achievement Award.

As always, the Global Gaming Expo provides the launch point for new slots from all the major manufacturers. The world’s top slot manufacturers responded to the challenge of the global economic slump with some of the most innovative products seen in years.

By Casino Connection Staff