U.S. Indian Casino Revenue Growth Slows According To ReportRevenue Increase By Just 2 Percent Overall In 2012 |
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Indian casinos brought in $28.1 billion in 2012, an all-time high, according to Casino City’s annual Indian Gaming Industry Report. The revenue marks an increase of just 2 percent over the previous year, which amounted to half of the 4 percent increase seen before the recession in 2007.
The report, authored by Alan Meister, puts part of the blame on a weak economy, along with an increase in competition from other commercial casinos and racinos across the country.
Overall, revenue increased at 66 percent of Indian casinos with major spikes coming from states such as Alaska, South Dakota, Alabama, Texas and Montana. Indian gaming was responsible for about 43 percent of all gaming revenue in 2012. Connecticut’s two casinos suffered the most due to new gambling facilities in neighboring states.
Roughly 25 percent of all Indian gaming comes from California, which brought in $7 billion. Oklahoma accounted for 13 percent of overall revenue.
Indian facilities were responsible for 679,000 jobs, $30 billion in wages and $9 billion to federal, state and local governments in taxes.
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