As casino gaming falters, associations lower the stakes
- January 1, 2009 |
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CEO Update
By Joe Eaton Conventional wisdom once had it that casino gaming, virtually alone among industries, was recession-proof. But as casinos in Las Vegas and across the country continue to suffer steep revenue declines, the current economic downturn has proven that wisdom false. For the trade associations that represent casino interests, pain at the gambling tables is turning out to be a sure bet. In December, the American Gaming Association, based in Washington, D.C., suspended its membership dues for the first half of 2009 and plans to cut its budget to partially offset the loss, said Frank Fahrenkopf, the groups president and CEO. I think any association has an obligation… Read More
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