Casino Mogul Steve Wynn: Gambling Industry Is 'Not Healthy'Comments Are In Contrast To Those Of American Gaming Association |
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How is the gambling industry faring right now? Apparently that just depends on who you ask.
Las Vegas casino boss Steve Wynn reportedly said last week when he was in Carson City, Nevada that the business, not referring to his specifically, is “not healthy.”
“Right now, the gaming industry has a serious health problem,” Wynn said
He reportedly was meeting with Nevada officials to discuss some business matters.
“We are just up here today to try and share insights as we see the gaming industry,” Wynn added in passing. “We want them to know what the real outlook of the industry is and that understanding will lead them to proper decisions going forward.”
Wynn’s comments, mainly directed at Nevada but still referring to the industry at large, came not long before the American Gaming Association, which Wynn Resorts is not part of, released its annual report. In the report, the AGA said that commercial casinos in the United States took in $37.34 billion from gamblers in 2012, which was the second highest mark all-time.
Unlike Wynn, the AGA said the industry is healthy.
“After three years of increasing growth and positive signs in all sectors of the industry, it’s clear that we have weathered the recession,” Frank Fahrenkopf, president and CEO of the AGA said in a statement. He added in a conference call Monday that the “present and future look bright for the U.S. commercial gaming industry.”
It seems likely to assume that both Wynn and Fahrenkopf agree on the fact that growth for the brick-and-mortar casino industry will come outside of Nevada. An online gambling industry is also on its way, as that could be a source of increased gambling revenues.
Wynn is currently eying new casinos in Philadelphia and the Boston area.
Reporting on Wynn last week via Press of Atlantic City.
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