With the Vegas economy as much a play on convention activity as anything else, you can’t look to it to get a sense of the gambling industry.
A better place to look is the UK, where online gambling is completely legal, and the companies that run the sites don’t have other side businesses.
Now we know that this recession violated the old rule that sin always sells, as gambling shops got crushed. But it looks like they may be bouncing back. Poker and sports betting firm SportingBet just reported a 26% rise in profit, notes the Daily Mail. It’s also reinstating its dividend and moving up to the more senior London market.
Anyway, it’s just one indicator, but it seems like a good sign for businesses that people are starting to get frivolous with their money again.
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