Effects of 9-11 on the Gaming Industry
This paper explores how the tragic events of 9-11-01 and economic downturn effected, both negatively and positively, the gaming (casino gambling) industry which is big business in the United States.
This paper states that, immediately after September 11, the negative impact of that day’s horrible terrorist attacks was felt in the gaming industry especially in casinos that are dependent on air travel which decreased markedly. The author feels that, even during tough economic times, Americans tend to gamble more. The paper cites various stock analysis reports that are favorable to the industry.
Newer, alternative destinations for casinos, however, have helped other gaming industry companies. Slot machine companies like International Game Technology (IGT) have prospered since September 11. As Christopher Palmeri writes, Tough economic times often prompt states to seek new sources of revenue, such as casinos. The 1970s brought Atlantic City, and the early 1990s saw riverboat gambling spread in the Midwest. Casino gambling is now being considered in eight states, most notably New York, Pennsylvania, and Kentucky.”