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One of the biggest problems in the Las Vegas market is that the numbers have been down straight across the board. Casinos in the city have seen declining numbers since before the recession. Once the recession happened of course, people were unable to wager due to lack of discretionary funds to put into the activity. It was a hard time for casinos but thankfully they have had years of success when it comes to bring in revenue. Most casinos in the city had enough in cash reserves to sustain themselves over the lean months of the recession. What operators are hoping for now is a true turnaround of the market. One of the problems though is that the market is not reviving as quickly as they’d hoped. The numbers are in and the Super Bowl did not perform as well as the state of Nevada officials would’ve hoped. In fact, overall Super Bowl this year created a $2.5 million loss for bookmakers within the states to deal with. In former years the Super Bowl was a huge draw for bookmakers in the city of Las Vegas. What better way to celebrate the huge football game and to travel to Las Vegas and wager on it? It was an activity that many sports lovers took part in and Las Vegas casinos loved. It was a time of year when they could take full advantage of how popular sports are and how much money they can bring it. But this year that was not to be…
This year the huge loss is not something the state has to manage. The Nevada Gaming Control Board posted the loss hopefully. Although the Super Bowl did not perform as it normally does, the gaming board is hoping that next year things work much smoother. Because the market will be further away from the recession of 2008 people may be more inclined to get back into wagering and sports betting. In the end bookmakers in the state of Nevada only brought in about $724,000 on this past Super Bowl. Hopefully next year’s event will be the true turnaround for the Las Vegas market and once again allow casinos and bookmakers to take advantage of the general level of gambling throughout the world.