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Racino Revenues Growth Leads Industry12 July 2004BANGOR, Maine – As reported by the Associated Press: "Revenues from racetrack-based slot machines grew faster than any other form of gambling during the past decade, a study has found. The California-based Analysis Group reported revenue at so-called "racinos" were up 48 percent since 1994, while American Indian-run casinos were up 16 percent and commercial casino revenues rose 5 percent. "The study released Wednesday attributes the growth to the relative novelty of racinos - the first one opened in Rhode Island in 1993. Racinos also are opening in states where they face little competition from other forms of gaming. "…Racino revenue grew 8.3 percent between 2002 and 2003, almost six times faster than commercial casino revenues. Both were outpaced by growth in American Indian gaming, the Analysis Group study found…" |