AMERICAN CASINOS TAKE IN A RECORD $32.4 BILLION
The American Gaming Association recently reported that America’s appetite for gambling is growing expeditiously each year. Amazingly, the 6.8 percent increase in Gross Gaming Revenues does not include American Indian Casinos, or slot machines at horse and dog racetracks
The American Gaming Association (AGA) is the national trade association for the commercial casino industry. In addition to representing the interests of its members on federal legislative and regulatory issues, the AGA serves as a clearinghouse for information, develops educational and advocacy programs, and provides leadership on industry-related issues of public concern.
Their report, “ 2007 State of the States: The AGA Survey of Casino Entertainment” also illustrates the continued high acceptability of casino gambling among American adults, with more than four in five saying the activity is acceptable for themselves or others.
“This year’s … report highlights the two-fold success of the casino gaming industry, strong economic growth combined with widespread public approval, that makes casino gaming a mainstay of the American entertainment industry,” said Frank J. Fahrenkopf, Jr., president and CEO of the AGA. “The industry’s performance in 2006 upholds our ongoing legacy of providing good jobs, making significant tax contributions and fostering positive economic environments in the communities where we operate.”
Nevada remained at the top, generating a record $12.6 billion. New Jersey, which came in second raked in $5.2 Billion.
In addition to posting more than $32 billion in gross gaming revenues in 2006, the 460 commercial casinos in 11 states directly employed 366,197 people. These employees earned $13.3 billion in salaries, including benefits and tips, which equates to a 5.6 percent increase over 2005 figures. Casinos also supported the communities and states where they operate, contributing $5.2 billion in direct gaming taxes to state and local governments in 2006, a 5.5 percent increase from 2005. These taxes were used to fund education; historic preservation; economic development; health care initiatives; youth, senior citizens’ and veterans’ programs; and other important community initiatives, the AGA reported.
According to the AGA, the continued economic success of the casino gaming industry is paralleled by the sustained high acceptability ratings it receives, which are evident in the annual poll of American adults conducted by Luntz, Maslansky Strategic Research and Peter D. Hart Research Associates, Inc. for State of the States. In addition to the more than 80 percent of American adults who consider casino gambling acceptable, almost seven out of 10 interviewees (67 percent) say casinos bring economic benefits to other industries and businesses. The same percentage believes legalized casino gambling is a good way for state and local governments to generate revenue without raising taxes.
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