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The Suite Blog >> U.S. Tribal Casino Gambling Going Strong

 

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June 23, 2008 - Just about every country nowadays tolerates one form of betting or another. In the U.S., land-based gambling operations include everything from sportsbooks, racetracks and Jai Lai to poker tournaments and casino gambling. And although online casino gambling still remains unregulated and feebly prohibited in the U.S., the fact of the matter is that U.S. citizens continue to gamble at their own will, whether online or in the nearest tribal casino.

In fact, tribal casino gambling has been the fastest growing sector in the U.S. land-based gambling sector for some time now. Even with a slower than average economy in 2007, tribal casino gambling managed to outpace Las Vegas and proved its worth for helping smaller, struggling economies throughout the U.S. Anyone need just look at the progress both Foxwoods and Mohegan Sun have made, not to mention the billions they've paid to the State of Connecticut in casino gambling taxes.

Although tribal gaming revenues in 2007 did not enjoy double-digit revenue growth from the previous year in over ten years, the 5% rise was far better than the 1.8% growth rate for Nevada casinos in 2007. According to statistics of the National Indian Gaming Commission, it was Region V that saw the most growth (approximately 20%), translating into $2.6 billion in revenue (largely due to continued expansion of casino style games in Oklahoma). It was Region II (California and Nevada), however, that  generated the most revenue overall ($7.8 billion). The total amount of tribal casino revenue in the U.S. last year was $26 billion, while land-based casino operations in Nevada saw an intake of nearly $13 billion.

Even with the horizon of the economy not looking so bright, the 423 betting destinations operated by some 225 tribes in 28 States shouldn't worry so much. Now that the State of Florida has passed legislation to allow casino style gambling at a select number of gaming destinations, continued growth is expected over 2008. Who should be worrying the most is Las Vegas, where a huge boom in the construction of luxury condos could end up serving to be in the nail in the coffin for a number of casinos if the economy continues on a downward spiral.

Originally published: June, 2008 | Categories: Gambling

 

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