Analysts forecast tough times for the strip 

Las Vegas gaming analysts are saying that the strip is yet to experience the worst of the recession, and that terrestrial gambling institutions can expect to take further knocks as the economic crisis tightens its grip on the United States in 2009.

The continued recession is likely to see casinos shed thousands of jobs, and look towards debt restructuring to help them survive difficult times. Many casinos are considering selling off properties to add liquidity to their books during the recession.

"It's no secret to anybody watching this industry that 2009 is going to be an extremely challenging year," Spectrum Gaming Group Senior Vice President Joseph Weinert said on Casino City Times.

"This is the first time the industry has really felt the impacts of the national economy. We don't see any catalyst for the industry to reverse its fortunes until the economy at large reverses its fortunes."

Tough times are likely to see several important changes take place in the gaming industry. Analysts have forecast that major industry players will look to export their brands to other parts of the world, whilst adopting increasingly sophisticated technology at home to reduce the need for a paid labour force.

 

 

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