\nHARTFORD, Conn. (AP) \u2013 Revenue at U.S. casinos jumped more than 6 percent in 2012, the first significant increase in three years as economic growth picked up speed and more casinos opened in several markets.<\/p>\n
\tBut revenue generated by Indian casinos rose less than 2 percent the same year, Casino City\u2019s North American Gaming Almanac found. Growth is limited due to regulations restricting tribal casino expansion beyond reservations and differences between tribes over how best to expand, said Vin Narayanan, editor in-chief of Casino City.<\/p>\n
\t\u201cThere\u2019s a giant political question about that,\u201d he said.<\/p>\n
\tTotal gambling revenue in 2012 was $94.47 billion, with the largest share, $40.38 billion, from casinos and card rooms. Tribal casinos generated $28.14 billion followed by lotteries ($23.41 billion) and racing and sports gambling ($2.55 billion) in 2012.<\/p>\n
\tCasino revenue grew by a fraction of 1 percent in 2011 and 2010 and fell nearly 6 percent in 2009 as the steepest economic downturn since the Depression took hold.<\/p>\n
\tYear-to-year revenue changes are vastly different from one state to another. In Ohio, for example, total gambling revenue jumped by one-third from 2011 to 2012 as casino gambling ramped up.<\/p>\n
\tBut in New Jersey, seventh largest among the states in overall gambling revenue in 2012, casino revenue fell from $3.69 billion in 2009 to $2.71 billion in 2012 as three Atlantic City casinos shut. Nevada, California and New York are the top three states in casino revenue.<\/p>\n
\tNarayanan said saturation is the culprit for the decline of Atlantic City\u2019s casinos, but it\u2019s not an issue elsewhere.<\/p>\n
\t\u201cAre there too many casinos in the market? As far as Atlantic City is concerned, there are too many casinos on the market,\u201d he said.<\/p>\n
\tBut casinos opening in Ohio are satisfying \u201cpent-up demand,\u201d he said.<\/p>\n
\tSimilarly, the legalization of casino gambling in Maryland in 2008 and the opening of the state\u2019s first casino in 2010 generated tremendous revenue. Casino and card room revenue increased from $27.6 million in 2010 to $377.8 million in 2012. Total gambling revenue jumped to $1.15 billion in 2012 from $760.6 million in the same period.<\/p>\n
\t\u201cMaryland is a place that\u2019s just taking off,\u201d Narayanan said.<\/p>\n
\tThe opening of casinos in Massachusetts in the next few years is expected to lead to a significant new source of revenue, possibly at the expense of neighboring Connecticut\u2019s Mohegan Sun and Foxwoods Resort casinos.<\/p>\n
\tNarayanan questioned if gamblers who check out a Massachusetts casino will still be comfortable traveling to Connecticut\u2019s tribal casinos.<\/p>\n
\t\u201cThat\u2019s a real good question,\u201d he said.<\/p>\n
No replies were posted for this topic.<\/p>\n","protected":false},"excerpt":{"rendered":"
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