美国是一个赌徒的民族，如果不进行赌博游戏，如同没有财产和股票。他们一直很热衷于投注活动，即使是在经济危机时期，尽管在经济危机时期，投注活动可能有所减少。随着经济复苏，他们的投注仍然比以前少了。每日的旗舰赌场行中最大的赌博目的地 – – 拉斯维加斯的博彩收入是他们在2007年高峰时期的五分之一。近期强劲百家乐收入表明，亚洲的消费者正在增加，但这两家公司的情况说明了挥之不去的问题，就是如何开展一个合适的扩张和投资。
周二，米高梅赌场提出845米美元的高级担保债务，支付了9％优惠券。在2008年底，该公司支付13％，但由于大多是一个松动的债务市场，而不是环境改善的更好的营商资金成本。该公司必须继续重整理其资产负债表，与新增的股权，也有可能需要出售部分资产以抵押债务。
Harrah拥有私人股份，其债务总额约220亿美元，是一个过去债务的11倍，相当沉重。去年的盈利的所有收入已经被用来支付利息，税项，折旧及摊销等不同的地方。债务期限已被推迟到2014年，在这之后，他们需要寻找更好的发展机会，和许多过度举债的公司一样，本集团已有四年受债务所累，它希望有一个强有力的复苏。
同时，赌博行业的竞争越来越激烈，因为各国都寻找新的税款，去年，大西洋赌城在宾夕法尼亚州和纽约的取得合法的法律地位。有研究员指出，特拉华州和马里兰州也打算让赌博行业明朗化，合法化。
译文：
The US is a nation of gamblers, be it in property and stocks if not on the turn of a card. But while punters are returning to the tables as the economy recovers, they are still betting less than before. Daily gambling revenues on the Las Vegas strip – the flagship row of casinos in the biggest gambling destination – are down by a fifth from their 2007 peak. Recent strong baccarat revenues suggest that Asian consumers are doing their bit, but two companies illustrate the problems that are lingering after a fit of expansion and investment.
On Tuesday, MGM Mirage raised $845m of senior secured debt, paying a 9 per cent coupon. In late 2008, the company was paying 13 per cent but the improved funding costs are mostly due to a loosening up of debt markets rather than better business conditions. The company must continue to restructure its balance sheet, with fresh equity or asset sales still possible.
Private equity-owned Harrah’s, whose total debt of about $22bn is a hefty 11 times last year’s earnings before interest, tax, depreciation and amortisation, is in a different position. Debt maturities have been pushed out to 2014, after which they come thick and fast. Like many over-leveraged companies, the group has four years to cross its fingers and hope for a strong recovery.
Meanwhile, competition is increasing as states look for new tax dollars. Feeling the effect of liberalisation in Pennsylvania and New York, last year Atlantic City saw some casinos post the lowest revenues since the early 1980s, notes CreditSights. Fellow neighbours Delaware and Maryland are also contemplating gaming tables, with other states heading down the same route. Much rests on keeping those roulette wheels spinning.