Many states see drop in casino revenues during 2008

Feb 17, 2009 5:05 PM
Industry Insider by Ray Poirier | Nevada casinos certainly felt the impact of the economic slump that hit the country in 2008 with revenues declining nearly 10% but statistics reported by the Associated Press showed that Nevadans had plenty of company.

Taking even larger hits were the states of Illinois and Colorado, with the former being down 20.9% and the latter by 12.28%. And, as the wire story indicated, both states imposed regulations that banned smoking in the casinos.

Also showing declines were New Jersey, 7.64% and Mississippi, 5.82%.

Leading the states that reported increases in casino revenues was Pennsylvania, up 58.98%, primarily because of the many racinos that began operations during the year, including The Meadows, owned by Las Vegans Bill Paulos and Bill Wortman.

Others included: Missouri, 5.66%, Iowa, 4.14%, South Dakota, 4.11%, Indiana, 1.65%, and Louisiana, 0.46%.

The American Gaming Association was cited as the source of the revenue statistics.