Casino Expansion Slows, But Revenue Increases In United States

While casinos all across the country have been experiencing sharp declines in their revenue numbers from this year, last year saw an increase in revenue. Casino revenue from 2007 was up 5.3 percent.

The American gaming Association released figures that contradict what most casinos and analysts are saying. They are claiming that revenue is down across the board for casinos in the United States.

A report released by the Association on Wednesday, however, claims that revenue was increased in 2007 by 5.3 percent. The total revenue from commercial casinos was $34.1 billion.

While those figures are strong, the casino boom that has been taking place across the nation has slowed. Recently, several states turned down the chance to legalize casino gambling. Among them were Kentucky and Massachusetts.

Other areas are showing rapid growth in the casino industry. Atlantic City is being hurt financially by slot parlors that have opened in Pennsylvania and New York.

While the numbers from 2007 were increasing, the Gaming Association is not oblivious to the current problems facing the industry.

"We're facing some difficult economic times. People said for years that we were recession proof. I've been saying we're not recession proof. we're recession resistant," said Frank Fahrenkopf, President of the American Gaming Association.

May 16, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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