Casinos in Vegas and around the world have been hit hard by the economic crisis, financial analysts have learnt.

While reduced costs and capital expenditures meant casino and hotel operator Wynn Resorts Ltd showed better-than-expected results and earnings this week, the Las Vegas Sands Corp, showed poor results financially for their Las Vegas region. The market rivalry between the two international hotel and casino groups is one of the largest in the industry.

Ultimately, the economic situation has placed a monetary cap on consumer spending, especially for holidays and trips to casinos, placing pressure on the industry to come up with revenue figures and meet shareholder expectations. Even with the reduction of staff in most casinos around the world interestingly, financial shortfalls are yet to abate.

The Wynn Corporation ended the Thursday markets up 13%, while its fierce rival Sands reported the day 9% higher, however managed to fall 11% after the markets closed. A financial speculator and industry analyst noted “Sands had very weak property results in Las Vegas.”

Another casino conglomerate suffering in the industry is the MGM Mirage, which operates 9 casinos in the Las Vegas area including the Mirage, the Egyptian style Luxor hotel, and not least the Ocean’s 11 casino heist repost Bellagio. As well as a throng of other hotels in the Nevada area and outside, the MGM company is set to report on Monday quarterly earnings, increased their share value 7% before dropping 3% after markets closed.

The 3 companies, holy triumvirates and monopolists of the casino and hotel industry, are all expected to be hit hard by the opening of the CityCenter project in the Vegas Strip later this year. The multi-million dollar project, a joint venture by MGM and Dubai World, will reduce demand for the volatile market even more. Another analyst in the Nevada region said “We continue to worry about supply in Las Vegas.” This comes after Wynn Ltd reported a 36% drop in hotel reservations for the second quarter with respect to the previous year, as well as a 30% drop in the first quarter.

Luckily for casinos however, the gambling aspect of the industry has surprisingly held up well in comparison. Wynn noted their Vegas operations revenue had increased to $124 million from $120 million the previous year. Likewise non-casino revue also increased, stating figures of 9.4% increases, presumably linked to the opening of the Encore resort by Wynn last December.

With all casino groups looking towards the future however, in a fiscally expansionist regime redolent to that of 1950‚Äôs Western capital liberalism, the Wynn group is already researching and concerting efforts aimed at Macau, for a regional project known as the Cotai Strip. With gambling law prohibiting casinos in mainland China, Macau provides the haven and apex of gambling opportunism to voraciously drive up revenues and security. With such a massive market in the Far East being opened up by the Chinese government to Western Casino groups, many industry totems are eying up the Far East solution. Speaking of opportunities in Macau, Wynn‚Äôs CEO stated “Clearly that represents our next move in China. There is no other jurisdiction in Asia that would warrant a Wynn Resorts focus.”