It’s no secret that the world suffered great financial losses during the recession. It all began back in 2008 when things started to lag. The credit bubble burst and house value fell drastically. Add to that the growing number of people who were laid off or lost their jobs altogether and it created a disasterous financial climate for businesses everywhere. The states that relied heavily on one industry were the ones that faired the poorest throughout the difficult financial time. For example, Detroit Michigan was mostly involved in manufacturing– automobile manufacturing to be exact. When that industry was hit hard, the city was destroyed financially. What’s more, experts for the most part believe that those jobs for the most part will never be recovered.
Las Vegas was another city that relied mostly on gambling for its revenues. Slots had long been a reliable money generating activity for the city and the state for that matter. Suddenly with the difficulties of the recession combined, the state was under heavy burdens financially. It was reported that in the state, over 60% of homes were in foreclosure or the owners were behind on house payments. The disasterous news has been difficult for the city. With the problems it has suffered, there is some good news finally. It seems that slots gaming is on the rise for the first time in months. Moody just conducted a survey and is reporting that the gaming industry as a whole is finally reaching the heading of “stable” once again. It seems that slots gaming and other forms of table gaming are on the rise. Of course they are not yet near the level they were pre-recession, but it is still welcomed news for US legislators who were short on ways to generate revenue. Most states now are looking to legalize and regulate gaming as a means of building up state coffers once gain pose-recession. It is hoped that slots market will be able to make a substantial difference in the amount of revenue coming in.