Online Casino Rules
Posted on October 30, 2008 - Filed Under Gambling News
The loss of land-based casinos is a gain for online casinos, and the current state of the economy is helping in establishing this de facto condition.
No one needed to look at the third quarter financial reports of the United States’ casinos to judge their financial health, but the incoming reports have provided exact figures by which land-based casinos are losing money.
MGM Mirage, one of the major casino companies in the United States, has recorded a 67 percent decline in third quarter profit from last year, and the story is similar across the board. Las Vegas Sand Corp. and Wynn Resorts Ltd. have yet to declare their third quarter results, which no one is hoping to be promising.
The rising gas prices along with the ailing economy have kept a large group of punters from visiting casinos across the United States, and online casinos are benefiting from this. In order to cut the extra expenses of food and drinks while at the night out, the punters have confined themselves in their computer chairs, where the reward is equal to that of physical casino.
To encash on this, some of the top online casinos are offering big bonuses on the initial deposits done after registrations. Even the best online casinos are in the race to offer free trial as well as 100 percent bonuses on the deposit made during registrations.
However, today’s upsurge in casinos’ stocks on New York Stock Exchange will relieve the casino industry. The stock price of Las Vegas Sand has gained 80 percent on the news of getting to finish a $4 billion project in Singapore. Other gambling stocks raised in tandem: Wynn Resorts Ltd. and Melco Crown Entertainment Ltd. gained 25 percent each to touch $41.05 and $3.57 marks, respectively.
The business structure of online casinos makes it less dependent on a work force, and its no frills nature is helping online casinos in keep costs low and offer lucrative deals to rake in new punters.
Till the time the economy regains its lost glory, online casino have an edge, which even land-based casinos will find difficult to blunt.
