Las Vegas Casino and casino company, the Las Vegas Sands has gone into the red. The slowing economy in the USA has resulted in less money being spent on gambling as punters tighten their purse strings.

In the first quarter of 2008, the casino lost a staggering $11.2 million. In 2007 in the same period the casino's profit was over $90 million.

Competition from places such as Macau, construction and the weak economy have all been blamed for the terrible losses.

Since 2001, gambling in Macau has boomed. When Stanley Ho was stripped of his monopoly in the sector, other casinos flocked to the Vegas of the East and competition on the island is tough.

High Rollers are being offered credit at the Las Vegas Sands in an attempt to win them back from rival casinos. In addition over $12 billion is being spent on a luxurious new casino in Macau - 20,000 hotel rooms are planned.