Thursday, Jan. 15, 2009 | 3:52 p.m.
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IBIS World, a market research analysis firm, has forecasted an 8.4 percent decline in nationwide hotel-casino revenue by December 2009 as unemployment figures continue to rise.
With the first-quarter national unemployment rate expected to hit 7.6 percent and climb to 8.7 percent by the end of 2009, the gaming industry is expected to feel the hit, IBIS World said in a news release Thursday.
In 2008, Nevada gaming revenue declined 8.6 percent from the previous year, compared to the nationwide drop of 7.4 percent, IBIS World reported. The research firm said this figure in Nevada is expected to decline by another 8.5 percent in 2009 due to fewer visitors and convention numbers.
Non-casino hotels are expected to see a decline of 16.5 percent in the next year, IBIS World forecasted.
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