19 May 2012
Casino News: American Casinos Climbing Out of Recession
The American Gaming Association’s annual report was released last Wednesday, and states that US land casinos saw a 3% upturn in revenue in 2011 compared to the previous year.
There are 492 land casinos in the US, excluding those on Native American soil which count as external jurisdictions – and they took $35.6 billion in 2001, resulting in taxes totalling $8 billion paid to state and local governments.
Whilst there were net job losses, the figure was less than half of one percent, and with 339,000 employees remaining in the industry is not considered significant.
AGA president Frank Fahrenkopf Jr noted that “the state of the industry is good; the prospects for the future are solid.”
The report also said that over a quarter of casino visitors never actually gamble. Whilst some may consider that upsetting and would wish for greater conversion rates from casino lobbies to the tables, it’s viewed by the majority as a good thing with casinos clearly viewed by the public as offering quality entertainment in their own right and consequently striking a chord with more potential visitors.
Perhaps not surprisingly, Atlantic City saw a 7% drop in revenue, with nearby Pennsylvania offering more and more casinos thus depriving the coastal resort of business - though the opening of the new Revel casino resort is expected to redress the balance.
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