DESPITE BRUTAL CONDITIONS, COMMERCIAL CASINOS REMAIN VITAL ECONOMIC CONTRIBUTORS

by Lou on May 18, 2009

Despite 2008’s economic recession the U.S. commercial casino industry recorded its second highest revenue on record according to a report released today from the American Gaming Association (AGA). Gross gaming revenues topped $32.5 billion in 2008, a 4.7 percent drop from 2007’s record-breaking total.
State of the States: The AGA Survey of Casino Entertainment reveals that commercial casinos returned more than $5.6 billion in tax revenues to gaming communities across the country last year, funding local public services, such as transportation, infrastructure and education. The industry also remained a major U.S. employer, providing jobs to more than 357,000 people who earned $14 billion in wages, salaries and benefits.
This year’s report also takes a close look at the economic impact of the gaming equipment manufacturing sector, showing that the total direct economic output of this sector was $12.7 billion in 2008, a 6.7 percent increase over 2007 figures. Direct employment within the sector continued to grow steadily, reaching 29,600 people in 2008. Those employees earned $2 billion in wages and salaries last year.
The 2009 State of the States also examines the impact of casinos on domestic travel and tourism. Findings from two surveys—a recent national public opinion poll, and a new survey of tourism industry professionals—demonstrate that casinos play a crucial role in the $740 billion U.S. travel and tourism industry.
According to the report, nearly two thirds (65 percent) of Americans and a whopping 84 percent of travel professionals say casinos are an important part of the broader tourism industry. Additionally, more than eight in ten travel professionals from gaming states say local casinos encourage leisure travel to the region, and 76 percent agree there is a positive spillover effect from casino customers visiting other attractions in the area. Similarly, an overwhelming 90 percent of travel professionals who don’t live in gaming states say their states could attract more visitors if casinos were opened.
The report also indicates that overall acceptability of the industry remained high in 2008, as 81 percent of Americans think casino gaming is an acceptable activity for themselves or others. Poll results also show that 59 percent of Americans view casino gaming as a form of recreation similar to concerts, plays and sporting events, and they agree that casinos bring many different benefits to the communities in which they operate.
“The U.S. is grappling with the most severe economic downturn in more than a half-century, and—like nearly every industry—the commercial casino industry has been hit hard,” said Frank J. Fahrenkopf, Jr., (pictured above) president and CEO of the AGA. “However, it continues to be an important provider of jobs and direct gaming taxes, helping states, communities and families weather the economic storm.”
A full copy of the 2009 State of the States can be downloaded at http://www.americangaming.org/.

{ 1 comment }

online casinos June 25, 2009 at 4:45 am

People must know how to balance their time for the games and the time for their family. Individuals must always bear in mind that playing casino games could be addictive.

Comments on this entry are closed.

Previous post:

Next post: