Despite the TV shows, headlining entertainment acts, and high rollers skittering about the Vegas Strip, Las Vegas casinos have seen a decline in revenue. Sure, they are still bringing in billions in cash a year, but their costs are also going up. So what has led to this steady decline in profits for the Las Vegas fat cat casinos?
Here are three reasons why this is happening:
With changes to state regulations on gambling, more states are allowing casinos to plant roots in small towns; to help increase town revenue, provide jobs, and give the states their kickbacks in the form of “taxes”. There are more than 2000 casinos in operation in the US today, and a majority of them offer Las Vegas style gaming. Because people can spend less by staying closer to home, they are playing their games of chance at hometown casinos and forgetting all about the flashy Vegas powerhouses.
Not only do Las Vegas casinos have to compete with Brick and Mortar casinos that are springing up like wildflowers all over the country, they also have to compete with technology. Right now, you are reading this article on an online casino website. Slots of Vegas, while being a premier online casino, is just one of millions of online gambling websites popping up all over the World Wide Web.
If the money isn’t there the money doesn’t get spent. Because of poor economic recovery, loss of jobs, and an increase in costs of living, fewer people are crossing the thresholds of casinos. Honestly, when people have a little bit of money to spend because of budget constraints, they are more likely to play at an online casino or buy their $2 ticket for the Powerball.
Las Vegas has become the most dangerous city in the US. The crime rate in Vegas has nearly tripled over the last 10 years. Why? With so many jobs lost, casinos losing cash, and the drug element flashing their money more people are ditching the life of the innocent and taking up a life of crime. Not only that, the rate of sexual assaults, kidnappings, burglaries, murders, and frauds have increased. No one wants to bring their hard earned cash to a city where the chances of getting robbed or murdered are higher than their chances of winning a jackpot.
Not only is it cheaper and safer to play your favorite casino games online, it’s more profitable too. Slots of Vegas has the best payouts, the best bonuses, and the best chances of winning so set up your account, deposit some cash, and start playing any one of our Las Vegas style casino games without ever having to set foot in Vegas.