Broke And Broker: US Casino Spending Tumbling Back To Great Recession Levels
The Internet Post
Broke And Broker: US Casino Spending Tumbling Back To Great Recession Levels
Need yet another confirmation showing the US consumer has entered a phase of terminal retrenchment (in addition to all the other ones of course)? Below is a chart of Casino gaming spending in the past 15 years. What the chart shows is quite clear: at a drop of 4.3% Y/Y, far below the cyclical rises in 2011 and 2012, discretionary spending allocated for proceeds one can “afford to lose” is back to Great Recession levels, and sliding lower. As Bloomberg Brief summarizes, Gary Loveman, CEO for Caesars Entertainment, said the company felt the impact of curtailed consumer discretionary spending in their most recent quarterly results. Loveman noted that his company’s strategy was implemented “against the backdrop of ongoing uncertainty in the macroeconomic picture in this country and consumer weakness in the U.S. economy that negatively affected discretionary consumer spending and ultimately our gaming results.” On the other hand, with most of the gambling these days taking place in your retail brokerage screen with bets on when the Fed’s record high house of superglued cards finally comes tumbling down, perhaps consumers have merely changed their definition of gambling. It was once known as “investing.”
Filed under: economics Tagged: Bloomberg L.P., Casino, consumer, Economy of the United States, Federal Reserve System, Gambling, Gary Loveman, United States For more News Visit: http://theinternetpost.net
2013-04-09 07:45:52
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).