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Casino News:

  Casino Industry looks upward

As stated by Mr. Frank Fahrenkopf Jr., the worthy president of the American Gaming Association, the downward trend in the State’s Casino Industry has started improving with an overall annual increase of 3% in the State revenue since the last year, when the industry took in $35.6 billion. The official figures state that the big increase of 4.5%, i.e. approx $8 billion of taxes paid by the Casinos or other gambling units as compared to the receipts in the year 2010 are also remarkable.
Mr. Frank Fahrenkopf Jr., the AGA’s president said that future prospectus of the State’s Gaming Industry is shining and it would prosper well. While Las Vegas, with approx $6 billion revenue during the last year has retained its prestigious position in the casino industry, other places like Maryland, New York, and Kansas have also not lagged behind. He further said that revenue contribution by the casinos in Maryland saw an increase of 464% whereas the Kansas’ casinos made it $48 million, as compared to $38 million – a great increase of 28.3%. Casinos in Pennsylvania have also increased their casinos’ revenue from $2.5 billion to $3 billion, said Mr. Frank Fahrenkopf. Revenues by the casinos in New York have seen an increase of 15.6% whereas those at other places have also improved considerably.
Atlantic City has suffered a setback in terms of revenue that has gone down by 7%, with its casinos’ take in of 3.3 billion in comparison to 5.2 billion in the year 2006. Pennsylvania, once known to be a place for small independent markets as per the AGA’s report, has now secured a reputed position with a penetration in the business in the New Jersey. In fact, New Jersey’s casino industry has suffered greatly with the existence of the casinos that operate in Pennsylvania, Delaware and New York; apart from the Indian Casinos situated at a short distance in Connecticut.
Mr. Frank Fahrenkopf said that the launch of the Revel Casino, though in its prime stage had also its own impact upon the overall situation. He added that Delaware’s casinos recorded a downward trend of 16% in terms of job prospectus, dropping 2730 workers during the last year.
In the year 2011, the most popular form of gambling was lottery and a survey revealed that approx 27% of the total adults visited the casinos, setting aside a reasonable budget for casino gaming. They spent more at casinos in comparison to the amount at movies, music, or other things.


   2012-05-11






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