Casinos to Remain Cautious in 2010
At a time when most people are making resolutions which will enhance their prosperity and wellbeing, casinos in Connecticut have revealed that they are planning to play it safe this year.
TheDay.com, a local news website based in Connecticut has spoken to Mitchell Etess, a chief executive at the Mohegan Sun Casino, who has warned that 2010 will be marked by caution in the casino industry. As a business traditionally seen as “recession proof”, Etess has suggested that in order for takings at casinos to improve, Americans will first want to make sure their country is completely out of the recession.
Speaking to TheDay.com, Etess suggested that revenue increases “will happen when people start feeling comfortable, when unemployment starts to go down, when people see the national trends looking up and they can straighten out their own personal balance sheets”. Etess also warned that the industry has changed its outlook. Previously favouring the view that “if you build it, they will come”, the Mohegan Sun executive believes that casinos should remain cautious about expanding. As the many vacant areas and casinos in Las Vegas and other cities prove, the casino industry has a long way to go before it returns to prosperity.
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