Claremore Daily Progress

State/Nation

March 26, 2014

Revenue growth seen slowing at Indian casinos

HARTFORD, Conn. —

Spending by gamblers slowed at U.S. Indian casinos in 2012, as revenue growth fell behind non-tribal casinos for the first time in nearly two decades, according to a report released Wednesday.
The weak economy also put a brake on tribal gambling revenue, although it hit an all-time high, said Casino City’s Indian Gaming Industry Report.
Casino City, a publisher of gambling industry information, said racinos have outgrown Indian casino gambling in 16 of the 19 years in which race track casinos have operated. Revenue grew by 8 percent in 2012. But it’s been 18 years since revenue at commercial casinos, which jumped 4 percent in 2012, had a higher annual growth rate than Indian casinos.
“That was definitely something different,” said Alan Meister, author of the report.
The brighter comparison for commercial casinos is because more have opened — four voter-approved casinos have begun operation in Ohio, for example — and tribal casino markets are aging and locked in tough competition, he said.
Indian casino revenue growth in 2012 slowed to 2 percent, to $28.1 billion, down from 3.4 percent in the previous year and half the pre-recession rate of 4 percent in 2007. Revenue increased at 66 percent of Indian facilities, with a surge of as much as 20 percent in Alaskan casinos and a steep 8 percent drop at Connecticut’s two tribal businesses.
After Alaska, states that posted the fastest revenue growth were South Dakota, Montana, Alabama and Texas. The slowest-growth states, after Connecticut, were Mississippi, Colorado, Idaho and New York.
Gambling revenue is concentrated in a few states. Revenue rose 1 percent, to $7 billion in California, which accounted for 25 percent of U.S. gambling revenue generated at 68 Indian casinos. With Oklahoma, home to 118 gambling facilities, revenue in the two states accounted for 38 percent of tribal casino revenue nationwide.
Revenue has grown steadily at tribal casinos, from $121 million in 1988 to more than $28 billion in 2012. But with casino growth, revenue that surged by as much as 148 percent in 1989 has sputtered, dropping below 10 percent each year beginning in 2007.

Text Only
State/Nation
  • Gas prices continue falling in Oklahoma

    AAA Oklahoma says gas prices continue to drop in the state as demand nationwide drops below 9 million barrels per day.

    July 29, 2014

  • Perry: Texas plans to send 1,000 guardsmen to border

    Texas Gov. Rick Perry plans to deploy as many as 1,000 National Guard troops to South Texas to bolster security along the Mexico border, a local lawmaker confirmed Monday.

    July 21, 2014

  • NASA renames building for Neil Armstrong

    NASA has honored one of its most famous astronauts by renaming a key building at the Kennedy Space Center in Florida.

    July 21, 2014

  • New arrivals worry some in the Oklahoma panhandle

    A family who says they were excommunicated from Warren Jeffs' polygamous sect has moved to a small city located in the Oklahoma Panhandle, raising concerns among some residents.

    July 20, 2014

  • Celebrate 45 years since man's first steps on the moon

    Now's the time to get moonstruck.

    Forty-five years ago Sunday, Apollo 11's Neil Armstrong and Buzz Aldrin became the first humans to set foot on another world. Armstrong's "one small step ... one giant leap" on the dusty lunar surface July 20, 1969, still stirs hearts.

    July 20, 2014

  • US outlines case against Russia on downed plane

    Video of a rocket launcher, one surface-to-air missile missing, leaving the likely launch site. Imagery showing the firing. Calls claiming credit for the strike. Recordings said to reveal a cover-up at the crash site.

    July 20, 2014

  • Oklahoma Capitol renovation project previewed

    State officials have previewed preliminary plans for renovating the century-old Oklahoma State Capitol amid a display of artifacts from groundbreaking ceremonies for the structure.

    July 17, 2014

  • House passes tax breaks to boost charitable giving

    The House passed a package of tax breaks Thursday designed to boost charitable donations by seniors, private foundations and procrastinators.

    One provision provides tax breaks to people over 70 who make donations from their individual retirement accounts. Another reduces excise taxes on private charitable foundations.

    July 17, 2014

  • Should online accounts die when you die?

    Should your emails, web albums and other online accounts die when you do? Or should you be able to pass them down to a family member much as you would a house or a box of letters?

    July 17, 2014

  • Obama, Putin discuss Malaysia Plane incident

    The Kremlin says Russian President Vladimir Putin and President Barack Obama have discussed the Malaysia Airlines plane incident over eastern Ukraine.

    July 17, 2014