Things continue to be rough for our industry. Financial results
remain soft; discussion of bankruptcy in other quarters abound.
There is little optimism out there.
With just cause. While it has taken far longer than it should
have, the industry is finally realizing that the glory days (aka
everything before 2007) will never return. This is partly due to
the “new normal” of stagnant economic growth due to poor
government policy, but also because the glory days were, in
part, driven by unsustainable economic bubbles (dot-com followed
by real estate) that never could have continued forever.
It is also due to a realization that there is much, much more
competition today, and that the days of being able to make money
because governments arbitrarily restricted supply are over.
Back in May, I wrote an article about how many industry
executives had blamed “God” – quarter after quarter, year after
year – for their problems. If only the “weather” was not bad; if
only competition would go away; if only the economy would
improve. The article was broadly disseminated and widely
discussed – perhaps controversial, but certainly
incontrovertible.
To read the full article, visit CDC Gaming Reports by
clicking here