A report related to the financial performance of tribal casinos on the territory of the United States has been released recently. It contains information about the revenue generated during 2013 fiscal year.
According to the Indian Gaming Report, the tribal casinos have posted a considerable growth for a fourth consecutive year.
The revenue generated in 2013, however, is considered a record one for the tribal casino sector as the amount reached $28.3 billion.
According to the data released, during 2013, there were 244 tribes engaged in the gambling industry. They operated a total of 353,000 gaming machines and the number of table games exceeded 7,700. These were distributed among 479 casino properties in 28 states.
Although the numbers reported mark a relatively slight increase as compared to the results in 2012, people with knowledge on the matter define 2013 as a successful year as far as the financial aspect is concerned. Yet, the growth was smaller than what was reported in 2012 and 2011.
Market analysts warned that the weakened casino industry across the states would inevitably lead to a decline in revenue and suggested an alternative for keeping it relatively stable. Casino executives opted for popularizing the non-gambling activities within their properties.
As for the Indian gaming and non-gaming activities, both managed to generate $91.1 billion in output.
California and Oklahoma gaming sectors formed 38% of the total gambling revenue. During 2013, the revenue generated by tribal casinos formed 43% of the total revenue of the gambling industry across the states.
People familiar with the matter determined the result of Nevada, as disappointing as the state that has the reputation of a gambling Mecca generated the modest revenue of $11 billion in the reported period.
California-based tribes are playing a key role in the development of the gambling industry in the US. They are planning to expand their business by focusing predominantly on non-gaming facilities such as hotels, restaurants, etc. Currently, the online poker legislation in the state is a subject to heated debates but according to the majority of people, it will take at least a few more years before it becomes legal.
Along with California, Florida is the other state where tribal casino business prevails. There are eight tribal casinos and seven of them are managed by the Seminole Tribe.
According to the statistics, Florida and Connecticut are competing for the position of the second state where the tribal casinos are well developed but the latest report shows that for the time being, Florida stays ahead of Connecticut.
