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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
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