Casino Business on the Rise

/AP/ - JACKSON, MS - Lower gasoline prices and energy bills are giving Americans more money to wager at casinos, boosting gambling revenue in regional markets nationwide.

The latest state to report healthy revenue figures is Mississippi, where 30 state-regulated casinos won more from patrons last month than in any previous February. The state's first dockside casino opened in August 1992.

"Nearly every regional market in the country has had a good start to the year," said Eric Hausler, an industry analyst with Bear Stearns in New York. He singled out Iowa, Missouri, Illinois, Indiana and Mississippi.

Louisiana and Colorado also had jumps in casino revenue in February.
"We're seeing good numbers across the board," Hausler said.

Even Las Vegas, which was hard hit after Sept. 11 because of many travelers' reluctance to fly, is starting to rebound.

February revenue figures for Nevada casinos are not yet available, but that state's gambling halls had their worst month in 20 years in January.

Nevada casinos won $766.3 million from gamblers during the month, about $133 million, or 15 percent, less than they won in the same month last year.

Hausler and other observers say several factors figured in the drop, including Sept. 11, an economic downturn in neighboring California that predates the terrorist attacks and the fact the Super Bowl was played in February rather than its usual time in January.

The Las Vegas Strip was down nearly 24 percent, and downtown Las Vegas was off about 10 percent.

"Las Vegas is still below prior-year levels, but it's generally tracking ahead of our expectations," Hausler said. "And Atlantic City is off to a good start."