US casinos slowly coming back from recession woes

[ChipEaterMan]

US casinos slowly coming back from recession woes
The Associated Press

ATLANTIC CITY, N.J. ? The nation's commercial casinos continued their slow-but-steady comeback from the recession last year, with revenues up 3 percent nationwide and jobs holding nearly steady, according to a report released today.

click image to enlarge
Shawn Hollobaugh, right, deals cards to Tom Gagne of Bangor, left, as others watch during a game of three card poker at the Hollywood Casino in Bangor in this March 16 photo. When compared with 2010 figures, Maine?s gross gaming revenue dropped by 3.6 percent in 2011. and its gaming tax receipts fell by 3.7 percent year-over-year.
Gabe Souza / Staff Photographer
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The American Gaming Association's annual report noted the nation's 492 non-Indian casinos or other legal gambling halls paid nearly $8 billion in taxes to state and local governments, a 4.5 percent increase over 2010.

The casinos took in $35.6 billion last year.

They also provided more than 339,000 jobs, a decline of less than half of 1 percent from a year earlier. And casino workers saw their pay decline by 3 percent last year, to $12.9 billion in wages, benefits and tips.

"While it may be slow, the recovery of the national commercial casino industry is well under way," said Frank Fahrenkopf Jr., the AGA's president.

Markets where new casinos opened or where gambling had its first full year of operation posted the biggest gains, including Maryland, Kansas and New York.

Atlantic City had the biggest revenue drop at 7 percent. Its casinos took in $3.3 billion, down from $5.2 billion in 2006, when the first of Pennsylvania's casinos opened and began siphoning off business from New Jersey. Atlantic City has lost its perch as the nation's second-largest gambling market to Pennsylvania, although the AGA report treats Pennsylvania as a series of smaller independent markets.

New Jersey was for years the only state beside Nevada with legal commercial casinos, but it's now is beset by fierce competition from casinos in Pennsylvania, New York and Delaware, not to mention Indian casinos a short drive away in Connecticut.

Delaware's casinos lost nearly 16 percent of their jobs, falling to 2,730 workers last year.

The AGA's figures do not include Indian casinos, which took in $24.9 billion in 2010, the last year for which figures are available according to the National Indian Gaming Commission.

Maryland, where two casinos had their first full years of operation, saw casino revenue go from $27.6 million in 2010 to $155.7 million last year, an increase of 464 percent. Kansas' casino revenue went from nearly $38 million to $48 million, an increase of 28.3 percent, and Pennsylvania's casino revenue rose from $2.5 billion to more than $3 billion, an increase of 21.3 percent.

New York, where Resorts World opened last summer in Queens, saw a 15.6 percent increase in casino revenues.

Other notable gains in casino revenue were seen in Florida (16 percent); West Virginia (9.2 percent); Illinois (8 percent); Rhode Island (7.5 percent), and Oklahoma (6.4 percent).

Pennsylvania's casinos paid the most taxes in the nation at $1.45 billion; Kansas paid the least at $13 million. Thirteen states saw increases in the amount of tax revenue they paid to governments last year.

Nevada's casino revenue went from $10.4 billion to $10.7 billion, an increase of nearly 3 percent, even as jobs held roughly steady at 174,381. New Jersey's casino jobs declined by nearly 4 percent to 32,823.

Nearly 60 million people, or more than one-quarter of the nation's adult population (27 percent) visited a casino in 2011, and the only form of gambling that was more popular was the lottery. Almost half of those surveyed said they set a budget of less than $100 for themselves when they went to a casino, with another 23 percent limiting themselves to under $200.

Slot machines and video poker were the favorite forms of casino gambling nationwide, with 53 percent of the AGA's survey respondents choosing it first. Blackjack was second at 23 percent, followed by poker (7 percent), and craps and roulette (3 percent each).

There are more than 837,000 slot machines in 39 states, with Nevada (183,319), California (67,601) and Oklahoma (65,400) having the most.

During 2011, Americans spent more at commercial casinos than they did on music, movies and outdoor equipment combined. But the money they lost at casinos was significantly less than the amounts they spent on electronics ($186 billion) and cable television ($97 billion).

Philadelphia ($842 million) and Yonkers N.Y. ($577 million) remained the largest racetrack casino markets in the country last year.

[crp62885]

Foxwoods is alive and booming still!

[mightymaron]

The three casinos in my area is packed to the gills. I think what is deceptive is that if the casino doesnt get an "x" percent increase over the last year they say they are losing money. They are still making profit but not according to expectation. deceptive

[Hammertime]

Casinos will always thrive off degen gamblers

[mawoyto]

The Revel in Atlantic City is beautiful. If you go there get off the poker floor and roam the other areas.

[Paisleysky]

I live in NY and I go to a Native American casino up in Verona NY called Turning Stone. Wasn't as busy as I've seen it in the past. But I also go to 2 casinos down in PA now that they've put in table games and those have been pretty damn full. Someone is making money!

[StackSnack]

Poor little Casino's and their economic woes It irritates me when they cry about there hardships. There are millions out of work and they have the nerve to discredit the online casino's when in reality all they want is to control them also.

[imnodonkey]

Nice post Continue with your good posting Thank you~!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!

[LadyIst]

Thanks for information/ Maybe once .. I will take my chance in casino ))

[MrPokerVerse]

The ones I play poker at never seem to slow down. New Casino/Resort at any time the 100 table poker room is full.