{"id":292649,"date":"2023-10-04T17:14:56","date_gmt":"2023-10-04T22:14:56","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=292649"},"modified":"2023-10-05T09:56:06","modified_gmt":"2023-10-05T14:56:06","slug":"gaming-execs-believe-mild-recession-could-be-imminent","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/","title":{"rendered":"Gaming CEOs Bracing for Imminent, \u2018Mild\u2019 Recession"},"content":{"rendered":"

Despite a record-breaking pace of gross gaming revenue (GGR) in Nevada this year, gaming industry chief executive officers are concerned that a recession could hit the US economy and do so as soon as the current quarter.<\/p>\n

\"Casino
The Las Vegas Strip, seen at night. Gaming industry executives believe a recession could soon arrive. (Image: Bloomberg<\/em>)<\/figcaption><\/figure>\n

In the American Gaming Association\u2019s (AGA) newly released Gaming Industry Outlook, the Current Conditions Index read 100.6 in the third quarter, implying slight growth from April through June. However, the Future Conditions Index read 99.6 and is expected to endure a slight decline over the next six months.<\/p>\n

The Future Conditions Index reflects gaming CEO growth expectations that remain positive, but also a baseline economic outlook that anticipates a mild recession starting in the fourth quarter,\u201d according the AGA. \u201cWhile many gaming executives are positive about current conditions, views about future business conditions are more balanced.\u201d<\/p><\/blockquote>\n

To date, the broad view in Las Vegas has been that the US casino center isn\u2019t showing signs of recession<\/a>. However,\u00a0some gaming executives have noted that high inflation has compelled some customers to dial back on impulse spending while in Sin City.<\/p>\n

Specter of Recession Has Loomed for Awhile<\/h2>\n

Historically, a recession is defined as a country\u2019s economy experiencing negative GDP growth in two consecutive quarters — a condition the US economy<\/a> met last year.<\/p>\n

That definition was called into question for political purposes, and the media and banks took the bait. Following profligate government spending that last year triggered the highest inflation in four decades, leading to the highest interest rates in 20 years, the US economy could be fragile over the near term. That implies vulnerability for the gaming industry.<\/p>\n

The downturn will be driven by the impact of cumulative Fed rate hikes, tighter lending conditions and high inflation leading consumers and business to cut back on spending, hiring and investment,\u201d added the AGA. \u201cEven with these expectations that consumer spending will slow, consumer survey results continue to indicate that more than one-third of adults expect to visit a casino during the next 12 months, consistent with prior quarter results.\u201d<\/p><\/blockquote>\n

Further highlighting recession susceptibilities are the points that as of May, more than 70% of US job gains since January 2021 aren\u2019t new jobs but rather people returning to roles held before the coronavirus pandemic. Compounding that issue while implying vulnerability for the gaming industry is that real wages have declined 5% since January 2021 owing to rampant inflation, according to the partisan House Budget Committee.<\/p>\n

Why Recession Matters to the Gaming Industry<\/h2>\n

Even a mild recession would have the obvious impact of a decline in consumer discretionary spending, which would be a drag on gaming companies, but there\u2019s more to the story. Heavily indebted firms, which describes many casino operators<\/a>, tend to suffer during economic contractions.<\/p>\n

As noted in the AGA survey, gaming executives are bullish on balance sheet health, but their revenue growth and hiring expectations are decelerating. Add to that, macroeconomic conditions are already weighing on the industry.<\/strong><\/p>\n

\u201cAbout one-quarter of gaming executives describe access to credit as tight (26%), which is slightly more than those reporting it is easy (19%). More than half of executives cited inflation or interest rate concerns as the top factor limiting operations (58%),\u201d the AGA concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite a record-breaking pace of gross gaming revenue (GGR) in Nevada this year, gaming industry chief executive officers are concerned that a recession could hit the US economy and do so as soon as the current quarter. In the American Gaming Association\u2019s (AGA) newly released Gaming Industry Outlook, the Current Conditions Index read 100.6 in […]<\/p>\n","protected":false},"author":46,"featured_media":256513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,33810],"tags":[81897,81903,81898],"acf":[],"yoast_head":"\nGaming Execs Believe Mild Recession Could Be Imminent<\/title>\n<meta name=\"description\" content=\"Gaming CEOs are readying for the arrival of a moderate recession.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gaming Execs Believe Mild Recession Could Be Imminent\" \/>\n<meta property=\"og:description\" content=\"Gaming CEOs are readying for the arrival of a moderate recession.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-04T22:14:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-05T14:56:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/strip2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/\",\"url\":\"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/\",\"name\":\"Gaming Execs Believe Mild Recession Could Be Imminent\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/strip2.jpg\",\"datePublished\":\"2023-10-04T22:14:56+00:00\",\"dateModified\":\"2023-10-05T14:56:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Gaming CEOs are readying for the arrival of a moderate recession.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/strip2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/strip2.jpg\",\"width\":1200,\"height\":800,\"caption\":\"The Las Vegas Strip. Gaming industry executives believe a recession could soon arrive. (Image: Bloomberg)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Gaming CEOs Bracing for Imminent, \u2018Mild\u2019 Recession\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gaming Execs Believe Mild Recession Could Be Imminent","description":"Gaming CEOs are readying for the arrival of a moderate recession.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/","og_locale":"en_US","og_type":"article","og_title":"Gaming Execs Believe Mild Recession Could Be Imminent","og_description":"Gaming CEOs are readying for the arrival of a moderate recession.","og_url":"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-10-04T22:14:56+00:00","article_modified_time":"2023-10-05T14:56:06+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/strip2.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/","url":"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/","name":"Gaming Execs Believe Mild Recession Could Be Imminent","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/strip2.jpg","datePublished":"2023-10-04T22:14:56+00:00","dateModified":"2023-10-05T14:56:06+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Gaming CEOs are readying for the arrival of a moderate recession.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/strip2.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/strip2.jpg","width":1200,"height":800,"caption":"The Las Vegas Strip. Gaming industry executives believe a recession could soon arrive. (Image: Bloomberg)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/gaming-execs-believe-mild-recession-could-be-imminent\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Gaming CEOs Bracing for Imminent, \u2018Mild\u2019 Recession"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/292649"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=292649"}],"version-history":[{"count":4,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/292649\/revisions"}],"predecessor-version":[{"id":292748,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/292649\/revisions\/292748"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/256513"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=292649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=292649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=292649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}