Commercial casinos’ gaming revenues were up 3 percent in 2011, the second consecutive year they’ve increased, according to a report released Wednesday by the American Gaming Association.
The association’s ” State of the States,” its annual survey of casino entertainment, shows gross gaming revenues last year totaled $35.6 billion. Revenues had increased by nearly 1 percent in 2010.
“These positive 2011 economic figures are welcome news to our industry, our employees, and the communities where we operate,” Frank Fahrenkopf Jr., the AGA’s president and chief executive officer, said in a statement. “While the recovery is ongoing and the commercial casino industry is not monolithic, the data paint an optimistic picture.”
On the downside, gaming revenues at New Jersey’s 11 casinos in Atlantic City fell 7 percent, the steepest decline in any of the 22 states with commercial casinos. Maine’s one slots parlor, now called Hollywood Casino, in Bangor, experienced a 3.6 percent drop in gaming revenue after five continuous years of growth.
No commercial casinos operate in Connecticut, which is home to two Indian casinos, the Mashantucket Pequots’ Foxwoods Resort Casino, which includes MGM Grand at Foxwoods, and the Mohegan Tribe’s Mohegan Sun. Both have experienced revenue declines in recent years.
In March, an annual survey of the Indian gaming industry found that gaming revenues at tribal casinos climbed more than 1 percent in 2010 — the most recent year for which data were available — after declining for the first time in 2009.
Commercial casinos in the Northeast states that have them reported mixed results for 2011.
Pennsylvania, which benefited from the first full year of table games at 10 casinos and the first full year of operations at SugarHouse, a Philadelphia casino, experienced a 21.3 percent increase in gaming revenues. In New York, October’s opening of Resorts World at the Aqueduct racetrack in New York helped boost gaming revenues at the state’s nine racetrack casinos by 15.6 percent.
At Rhode Island’s two racetrack casinos — Twin River in Lincoln and Newport Grand in Newport — combined gaming revenues were up 7.5 percent.
The AGA also reported that in 2011, the commercial casino industry directly employed more than 339,000 people who earned $12.9 billion in wages, tips and benefits. Commercial casinos contributed $7.93 billion in tax revenues to gaming communities across the country — 4.5 percent more than in 2010.
(c)2012 The Day (New London, Conn.)
Distributed by MCT Information Services
Bangor experienced a 3.6 drop in revenue!!! How are we going to pay for the Arena??? Bangor wants to have a drain tax and a garbage bag tax. I have an Idea. Lets drop the School Budget from 42 millon a year to 32 millon a year, and take away the Schools right to Bond without voter approval.. The school wants a seven millon dollar bond for a new football field, let them fund raise for a new football field.
Ya they play 7 home games a year. I would say they could cut a couple trees and play at broadway park for all I care. Notice DR.Webb got her raise. When Bangor has one of the higher drop out rates in the state of Maine we have more to worry about than football. Then they Brag about 80% of kids going to college. I do not think 80% of kids should be in college in the first place.
Football is a stupid sport, everyone including myself has a lifelong injury from playing football in High School. TAxpayers should not fund such a dangerous sport to injure our children for a lifetime. Head injuries are copious as the pros have shown us. Stop the football and certainly don’t encourage it with tax money. Protect the children. Let them Fund the field themselves for sure.
I guess that it turns out that when American’s pay checks are shrinking, so is their amount of disposable income. Good luck Casino operators. Better start cutting the pay of your employees. Better start cutting back on their hours. I would mention cutting benefits, but they went the way of the disco ball.
If the people spending their hard earned money (35.6 billion) could see where it ultimately ended up-they might think twice and blow it on their kid’s education or get really crazy and save for retirement.