Las Vegas Recession Hit

Las Vegas has been hit by the recent recession, but we believe this is the first casino to file for bankruptcy. Silver Legacy Resort Casino in Reno, Nevada could not cope with its 143 million dollars debt and chose the restructuring path. The Casino resort opened its gates in 1995, a $360 million investment that offered visitors 1711 rooms, 6 restaurants and bars, and a casino floor with 1399 slot machines and 63 table games. It will continue to operate as it has already come to an agreement with one of its main debt holders, nevertheless this is a sign that the world’s most famous adult playground is facing a big challenge.

We are not aware of any big online casinos facing debt problems. This is actually where online gaming companies have a competitive advantage over land based casinos, the operating costs are much lower and management can be very flexible when it comes to tight budgets, without sacrificing quality and service to the final user, the player. However, “much lower” doesn’t mean that operating an online casino is cheap, something that many people have thought was the case in the past, an assumption that resulted in many rogue casinos and unsatisfied players. During the last couple of years though, the internet and portals like Bet Gambling have helped players identify the good companies from the bad ones, and casinos have no choice but to play by the rules and respect even the smallest player. They have no choice, bad service news will hit the gambling portals in no time and they will be out of business before they can spell BONUS.