US Casinos Enjoy Rising Revenues
Commercial casinos in the US had a good year in 2012 with gambling revenues increasing by almost 5% and the number of jobs holding steady.
The annual survey of casinos carried out by the American Gaming Association found that the nontribal casinos took in $37.3 billion last year, an increase of 4.8% from the 2011. This figure is the second highest ever, coming close to 2007 when casinos took $37.5 billion.
The association’s president, Frank Fahrenkopf, said, “By almost all measures, our industry is expanding and growing, which is good news for our employees and the communities where they live and work.”
There were 513 commercial casinos last year, an increase of 21 from 2011. Las Vegas is still the top gambling market with over $6.2 billion in revenue.
The report also found that of the 22 states with commercial casinos, 15 of them saw gambling revenues increase. The largest increases happened in Kansas, Maryland, Maine and New York, all of which opened new casinos last year.
However, New Jersey say the largest drop in casino revenue, despite opening a 12th casino, revenues in Atlantic City fell by 8% last year to just over $3 billion. The city’s casinos are fighting tough competition from neighbouring states and were also hurt by the effects of Superstorm Sandy.