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With President Barack Obama’s signing of his $787 billion stimulus package into law in an attempt to help the nation’s struggling economy, many Americans are hoping for a quick economic turnaround. There appears to be at least one small area of industry that has not been too affected by the recent fiscal downtime.
Louisiana’s state-licensed casinos have continued to mystify economists by actually reporting gains in January.
The state says that casino profits are up 11 percent over January of 2008. In fact, riverboat casino’s won more than $152 million in the first month of 2009, an increase of 12 percent over last January. Race Track casino’s reports that profits are up by 20 percent after a strong January.
Louisiana is easily the bright spot of the gaming industry. Huge revenue drops have hit such gambling centers like Nevada and Atlantic City over the last few months. Casinos in New Jersey saw a massive 18 percent drop in gaming revenue last month, while in Nevada gambling profits were down nearly 15 percent.
These numbers did not include the Indian reservation casinos in Louisiana, which are not required to report their figures to the Louisiana Gaming Control Board.
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