For the past two years, Las Vegas casinos have been on a downward spiral that was caused by the global recession. Last year, many companies that were affected by the economic downturn started to see some recovery, but the City of Las Vegas trailed behind as casinos struggled to restore themselves to their former glory.

Only now, is Las Vegas beginning to see some sort of light at the end of the tunnel, as a new report has revealed that the city’s casinos experienced a 16% increase in revenue in October 2010. This is great news for the city and its resident as this is the first time in years that Las Vegas has seen any hope of recovery.

As a whole, the state of Nevada is also seeing improved profits. In October, the state saw an 11% increase in its gaming revenue. Nevada has recently had a hard go at it, while trying to recover from the recession. Many residents have chosen to relocate in hopes of finding work elsewhere, while the state’s tourism industry suffered greatly due to the dismal performance of Las Vegas Casinos.

Now seems to be an ideal time to start buying back those casino stocks, because it won’t be long before land-based casino operators are seeing soaring profits once again.

This entry was posted on Wednesday, December 15th, 2010 at 2:29 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.