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Gambling revenue falls nationwide

10 August 2009

NEW YORK, New York -- As reported by The Wall Street Journal: "States' revenue from casinos, slot machines and lotteries is falling for the first time in many of the 48 states that have grown to depend on gambling as a crucial source of income.

"Revenue contributed by commercial casinos to state and local governments was down 2.2% in 2008, to $5.7 billion, according to the American Gaming Association, an industry trade group. In many states, the declines have continued.

"Eight of the 12 states that allow commercial casinos saw their take of gambling revenue fall in the fiscal year ended June of this year, compared with the same period a year ago, according to data from states and the Nelson A. Rockefeller Institute of Government at the State University of New York.

"In five of those states, including Illinois and Nevada, gambling income fell by a greater percentage than the state's overall revenue did. Nevada's gambling-tax revenue fell 15% in the fiscal year ended June compared with the same period a year earlier. That contributed to a drop of 10% in the state's overall revenue.

"Many lotteries also are hurting. In a sampling of 20 state lotteries, including California and Illinois, 14 had year-over-year drops in revenue for the fiscal year ended in June, according to Rockefeller Institute..."

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