The April 2009 figures are in, and the results are not good for the land-based casinos in Las Vegas .   Gaming revenues have dropped 14.6% during the first quarter of 2009, leading to speculation on the precipitous drop-off.   In Nevada , gaming revenues were $859.4 million for the month as compared to $1 billion for April of 2008.

This is a significant loss, especially when you compare it to last year. On the Vegas strip, the figures generally reflected the state wide results.  In April, the gaming revenues on the Vegas Strip were $441.3 million, a decline of 15.8%, as compared to April, 2008.  For the year to date, revenues are down 16.6% in Vegas.

If you look closer at the numbers, you can tell that the economy has had a significant effect on casino gambling in Las Vegas .  When you compare the overall decline in revenues from 2009 from 2008 as compared with 2008 and the previous year, there is close to an 11% difference.  Experts are looking at two factors for the drastic drop in revenues:  The way in which players have altered their style to suit the economic recession, and online casino gambling.

With regard to players’ adjustment to the economy, the statistics show that customers gambled $2.3 billion in April on table games in Vegas casinos, a rise of 1% over a year ago.  Yet, casino revenues over that same period of time declined 20.5%.  This difference is directly correlated to consumer spending.  Players walked away with earnings instead of reinvesting their earnings in additional gambling.  With players cashing out, they went home with more in their pockets while the casinos suffered huge losses.

The second reason for the drop-off in revenues during the first quarter of 2009 was the impact of online gambling.  The casino gambling sportsbooks broke all records for the first quarter of 2009, and online casino gambling was up in all areas.  Female gamblers increased in tremendous numbers as women have been less daunted by the online experience.

When you factor in both reasons, there were definite explanations for the lower revenues in Vegas casinos.  While gambling casino management remains cautiously optimistic, it can no longer ignore the online casino industry as a distraction.  Harrah’s is the first casino giant corporation to make its initial foray into online gambling, and it is felt that many more will follow.