Last week we ran an article in our Spanish section that commented on the present financial market volatility and the apparent ability of the gaming sector to remain unaffected. The old adage is ‘as safe as houses’ but it is actually the rise in numbers of those defaulting on home loans in the American mortgage market that has caused the credit crisis affecting the global markets.

Consumer spending has already seen a fall and yet casinos in America are recording record play. Whilst Macy’s, the famous US department store, has already seen sales slip in a ‘more challenging economic environment,’ the Mohegan Sun has seen record amounts gambled in July, breaking the US$1 billion barrier for the first time.

So far top gaming executives are saying that the current market crisis is not impacting on the gaming sector. Shares may have lost some value over concerns about consumer spending but it seems that gambling spend remains steady. So far at least, it appears that the gambling business is safer than houses. (E-08.17.07)

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