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Airport slot machine gambling was supposed to be a way to increase revenue in the state of Arizona. It turns out that they will have to find another way to help out a struggling budget.
The Mayor of Phoenix was pushing to legalize slot machines at Sky Harbor International Airport. After coming up with the idea, he quickly changed his tune on Wednesday and decided not to pursue the issue.
Tribal leaders had expressed concern that slot machines in the airport could lead to expanded gambling in racetracks and bars. The Mayor agreed that bringing slot machines to the airport would possibly jeopardize what they have going with the tribes.
“Our partners have expressed significant concerns,” said Mayor Phil Gordon. He still believes he will find alternative ways to increase revenue. “A lot of these ideas will be rejected, but a lot of them, I hope, will be able to be adopted.”
The casino gambling topic is a tricky one in Arizona. The state is allowed to have casinos under a compact voted on in 2002. If, however, gambling was allowed at the airport, it could void the compact.
The compact currently calls for a limit on the number of casinos that could be opened by Indian tribes. It also limits the amounts of games they can offer. A breach of the compact could mean that the rules would no longer apply.
Macau Casino Helps Wynn Resorts Triple Second Quarter Earnings
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Who says that casino gambling is being affected by the economy? Someone had better let Wynn Resorts in on that little bit of information. The company reported its earnings for the second quarter on Thursday.
Rejoice was the word from Wynn Resorts Ltd. on Thursday. The company announced their earnings for the second quarter and they were far higher than in the same quarter last year.
The company more than tripled their earnings from last year with $272 million. That is $2.42 per share. Last year their earnings were only at $.82 per share with a total of $89.6 million.
The companies Macau property was a major reason for the increase in revenue. The Wynn Macau saw a rise of fifty percent in earnings from the previous year.
The news was not all good for Wynn. The Wynn Las Vegas revenue dropped twenty four percent. That is following a very disturbing trend for casino operators in Sin City. It also shows that the economy is having some effect on casinos.
It had long been thought that casinos were immune to the problems of the economy. That is proving not to be the case this year. Many casinos have their revenue numbers way down from in past years.