Analysts at US banking heavyweight JP Morgan are predicting tougher times ahead for the land gambling industry in Las Vegas with the second half of 2008 shaping up to be the worst period for the industry since 2001.

Analysis provides more evidence for online bingo industry observers that land gambling’s loss is the online bingo games sector’s gain.  With higher petrol prices forcing players to curtail driving and airfares, many more gamblers are turning to the Internet for their entertainment.

JPMorgan analyst Joseph Greff has cut his earnings estimates for Las Vegas casino company Sands saying  “lackluster spend per visitor and stunted visitation.”  He further stated that “We expect this summer to be one of the worst on record, with meaningfully discounted room rates and special discounted package deals.”

Bingo online has enjoyed solid growth over the years and contrasts strongly with its land bingo cousins which have been beset in the UK by one crisis after another affecting player numbers and spending, including a nation-wide smoking ban and a double taxation policy.