Gas Prices Taking Toll On Casinos In United States
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The United States has seen a boom in the casino gambling industry over the past several years. Many states have changed their laws and are now allowing casino gambling to help out with high budget deficits.
Even with all of the expansion that is taking place, there still is trouble at many existing casinos. Gas prices have soared, leaving revenue at many casinos down.
In Indiana, casino riverboat gambling revenue is down for the first time in over a decade. The reason is two fold. The economy is keeping people away, and so is the $4 a gallon gas prices.
“I used to go every week, but those days are over. It’s so expensive,” said Nancy McIntosh, who used to go to Caesars Indiana.
In addition to the economy and gas prices, casinos around the country have also had to deal with weather that has forced them closed for several days. Caesars was shut down for four days in March due to high water in the Ohio River.
What many industry insiders are finding out is the one thing that that they feared. The casino industry is not immune to economical hard times like what was perceived top be the case. Casinos are now having to come up with innovative ways to attract gamblers, something they have never had to do before.
Greektown Casino Shows Sign Of The Times With Employee Layoffs
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Casinos around the country are being hit hard by the economy. An industry that used to be immune to any sort of country wide economy problems, now is feeling the effects.
Greektown Casino on Monday laid off eighty nine of its employees. Most of the employees worked at the table games like blackjack and baccarat.
The games themselves will not be cut. All seventy of the games will still be operational, the casino has just reorganized their way of offering the games.
“They consolidated pits. It’s a move to increase efficiency,” said Greektown Casino spokesman, Roger Martin. The move comes on the heels of the casino filing for bankruptcy protection back at the end of May.
Should job openings occur, the employees that were fired on Monday will have priority in coming back and working for the casino. Most of the employees that were laid off were working part time at the casino.
The casino is expecting to hire 400 new employees to its staff to help run the 400 room hotel that will be opening in early 2009.