Gaming revenues in the 12 states with commercial casinos have tumbled 2.5 % through the first nine months of 2008 and the trend worsened as the year progressed. That was the bleak outlook painted by AGA CEO Frank Fahrenkopf Jr. as the Global Gaming Expo is taking place at the Las Vegas Convention Center. Fahrenkopf said most of the show’s break-out sessions will address the global and national economic crisis and how it is impacting casino operators and gambling equipment manufacturers.

The explosion of gambling revenue in the Chinese enclave of Macau has other countries in Asia coveting similar riches — while avoiding the downsides that have tarnished Macau in years past. The countries include South Korea, which offers limited gambling to foreigners, and Japan, where only small-stakes, pinball-like devices are legal. These countries want the tourism boost and tax revenue that flow from big casino resorts…