In this week’s Green Felt Journal, I talk about why the fall in gaming revenue doesn’t matter as much as it would have a few years back:
Once upon a time, an annual drop in Nevada’s gaming revenue was greeted with the same reaction of denial, fear and panic that might accompany the diagnosis of a terminal disease. In the natural order of the past several decades, Nevada casinos are supposed to win more every year than the last—and that’s usually how it went. So it’s noteworthy that Nevada’s casinos won less in 2014 than they did in 2013. But here’s what’s more telling: Nobody seems to care, and for good reason.
We’ve known that the Strip isn’t all about gambling for a long time, but I thought those numbers really illustrated why.