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Most Recent Online Casino News

Casinos Increase Revenue 70 Percent

In any other business, a 5 to 10 percent annual growth in revenue would be considered good.

But this is Las Vegas, where they do things bigger, so sit down for this number: For the third quarter of 2005, the six major casino corporations posted a 70 percent gain in revenue over the same period last year.

In real numbers that’s the difference between $3.4 billion in revenue last year and $5.8 billion in 2005.

That’s just revenue, the amount of money casinos take in, but isn’t a true gauge of how much money it actually makes after you take out all the expenses. When you look at net income, the rate of growth over last year is a paltry 65 percent — $520 million this year, up from $315 million last.

So what’s driving this record-breaking profit at casinos?

Wynn Las Vegas had a lot to do with it, as the opening of any major resort casaino draws crowds and creates more places for them to stay, but really it’s all about the soaring costs of a Vegas visit.

Read the entire article at: KTVU.com 

2005 Online Casino News Archive

 

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