NEW ORLEANS (AP) - The new reality is that casinos are not recession-proof. Gambling in Louisiana and Mississippi is staging a slow comeback from the economic meltdown of 2008, aggravated for a time by the oil spill that chased away some tourists.
But for the rest of 2010 and into 2011, analysts expect players to keep a tight grip on their cash. They're largely unwilling to predict when full recovery might come.
Joseph Weinert, senior vice president of Linwood, N.J.-based Spectrum Gaming Group, says that, like other people, gamblers have to feel comfortable about their financial situation. He says the business had been perceived as recession-proof - but when the economy got tanked, the gambling business got whacked.