Gambling market decline continues

December 11, 2008 (InfoPowa News) -- Several hospitality and entertainment publications are commenting on the latest U.S. casino resort statistics released this week, with one report complaining that the Vegas crowds were evident ... but they were not spending at previous levels.

The Las Vegas Convention and Visitors Authority reported that October numbers were bad, with visitors down 10.2 percent from last October, although there were still 3 million visitors to the city. Hotel occupancy was down 8.5 percent for the same period; average room rate was $115.68, 14.3 percent less than last October.

Hotel occupancy in Vegas is down 3.2 percent year to date, which means it's been sliding more heavily since the big crunch hit in September. Continue reading this story at the CAP News page.