Gaming News

Gambling revenue falls nationwide

NEW YORK, New York -- As reported by CNN: "Recession-weary Americans aren't gambling the way they used to -- and that could be a problem for many U.S. states already struggling with record budget gaps due to the weak economy.

"State revenues from all sources of authorized gambling fell 2.8% in fiscal 2009, according to a report from the Rockefeller Institute of Government released Monday. It was the first decline in data going back at least 20 years.

"'It's not a huge decline, but it's sobering,' said Mark Marchand, director of communications for the Rockefeller Institute.

"...Income from casinos fell 8.5%, while revenue from pari-mutuel wagering, which includes dog and horse racing, sank nearly 15%.

"However, revenue from race tracks that also host electronic gambling machines such as slot-machines, or "racinos," increased by 6.7%, largely because of new racinos opening in Indiana and Pennsylvania, the report said..."

< Gaming News