It’s obvious that the present economic crisis affecting much of the world is also affecting the flow of gaming news. The two iconic gaming giants, Las Vegas and Macau, seem steeped in gloom as gaming revenue falls – a far cry from the ebullient optimism of not so long ago. The biggest gamblers of them all, Wall Street and the City of London, have hit a losing streak long predicted by some and, just as problem gamblers affect families and friends around them, already the fallout is having repercussions throughout society.

However, the gaming industry across the world is far from throwing in the towel. New projects are still being announced, although admittedly much thinner on the ground than twelve months ago, and some governments are still considering the casino resort route to economic growth. The biggest slowdown is in the media reporting of gaming, as evidenced in the stream of stories like ‘Angelina hates her films’ and ‘You’ll hop like a bunny to this golfing contest’ that have the flimsiest of associations with casinos and yet are making the headlines.

One thing is certain, decreasing gaming tax revenues mean many state budgets will have to be pruned. It is not only private businesses that are suffering the consequences of difficult credit conditions and the global slowdown. It is too soon to tell whether the government rescue packages in the US and Europe will be any sort of answer to the present financial problems that, according to some, herald another Great Depression. Now those governments are gambling with taxpayers’ money in an effort to reverse the results of financial regulation that has been far less robust than regulation of the gaming industry. (E-10.08.08)

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