Growth rate declines

October 23, 2007 1:12 AM
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Even though Indian gaming revenue grew at a robust pace of 11 percent in 2006, the growth rate was down from prior years — 15 percent in 2004 and 2005.

That was among the findings of the Indian Gaming Industry Report 2007-2008, which was released last week.

The Indian Gaming Industry Report provides research on the Indian gaming industry appropriate for executives in the industry, gaming analysts, regulators, consultants, lawyers, lobbyists, academics, and others interested in the state of Indian gaming.

The report alsoexamines the size and incredible growth of the market and its economic and fiscal impact on the U.S. and various state economies.

Other key findings include:

”¡ Class II gaming revenue grew slightly more than twice as fast as Class III gaming revenue, while Class III gaming still generated the lion’s share of revenue.

”¡ The top two states — California and Florida — generated approximately 40% of total gaming revenue at Indian gaming facilities.

”¡ Nebraska, followed closely by Alaska, led the other Indian gaming states in revenue growth.

Indian gaming continued to make significant contributions to the U.S. economy in terms of output, jobs, and wages.

The report features market summaries and revenues for each state along with tables showing the size of the industry. Summaries include year-over-year comparisons for gaming and non-gaming related revenue, number of gaming tribes, facilities, gaming machines, and tables.

The Report includes a directory of the 423 Indian gaming facilities in the United States along with a cross-reference listing of gaming tribes and the facilities they own.

The report is published by Research and Markets Ltd.

Oklahoma to add another casino

Oklahoma, which claims the third highest tribal gaming revenue in the U.S., will strengthen its position with a new casino in the works.

A $200 million casino in eastern Oklahoma is finally taking shape. Officials said last week framework has gone up at the Quapaw Tribe of Oklahoma’s facility.

More than 2,400 yards of concrete have been poured to complete the building’s 70,000-square-foot foundation.

Quapaw tribal chairman John Berrey says a 40,000-square-foot space for administrative offices and a warehouse has been added to the casino project plans.

The casino is set to be completed in two phases within two years. It will include 2,100 slot machines, 30 table games and 15 poker tables; a hotel; restaurants; a conference center; a golf club; and a retail center.

California holds line
on card rooms

Tribal gaming interests in California were pleased last week when Gov. Arnold Schwarzenegger vetoed legislation that would have allowed small card rooms to add more gambling tables.

Sen. Dean Florez (a Democrat) promoted the bill as a "modest" and "reasonable" way to accommodate the growing popularity of Texas Hold’em.

But the Republican governor said the bill would "create a significant expansion to the current moratorium on expanding local gaming establishments," according to a veto statement.

The 12-year moratorium prohibits new card rooms and limits expansion at existing rooms. Small card rooms, which compete with less-regulated tribal casinos, say they are hurt by the moratorium as costs continue to rise and they’ve haven’t the ability to increase revenues by expanding.

The Senate bill would have allowed about 60 of the state’s 91 card rooms to expand by up to five tables each.