Casinos Not Immune to a Worsening US Economy
May 15, 2022
'Tis the season for companies to publish their first quarter earnings reports, and, as a result, a disturbing trend is becoming apparent. U.S. Brick and Mortar casinos nearly across the board, seem to be having a rough time of things lately. For instance, Wynn Resorts saw their profits drop 20%, Ameristar Casinos was short $60.9 million, Trump Entertainment has announced overall widening losses, Boyd Gaming lost $32.6 million, the Tropicana went bankrupt, and even MGM Mirage was forced to lay off 400 mid-level managers in April, citing what MGM spokesman Alan Feldman called "a slowing U.S. economy."

One needs only to walk around Vegas lately to see tangible evidence of what is affecting these companies. Whether it's due to the sky rocketing gas prices, unemployment, the mortgage crises, or the weakening dollar, people just aren't coming out to play as much anymore.

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