I've always heard that the gaming industry, including bingo, was recession proof. The adage goes something like this: when times get tough, people turn to gambling and drinking. Therefore, the gaming industry and the liquor industry love a recession. But, is this really true for gaming, and in particular bingo, today? I don't think so.
Granted, this is all my opinion, but I believe bingo (and gaming) suffers during a recession like most other industries. When times get harder, bingo players aren't running out to bingo halls to try to win their rent money. Bingo is entertainment, and I think bingo is treated like most other forms of entertainment. When money is tight, people cut back on a few things, and bingo is often one of them.
In Michigan, we've seen the automotive industry take it on the chin for a number of years. And, for a number of years in this state, bingo has declined as well. Now that the country looks like it's headed for a recession, Las Vegas' numbers aren't as good either according to this article. New data show Las Vegas gambling revenue down
It just goes to show you that not every old adage is true.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment