Wall Street analysts say tribal casinos in Florida will survive the economic downturn because they don't rely on tourists from out-of-state.
"The typical South Florida casino visitor, the local retiree, is actually fine in this economy," Adam Steinberg, a director at Morgan Joseph, said at the Florida Gaming Summit, The South Florida Sun-Sentinel reported.
The Seminole Tribe and the Miccosukee Tribe operate several casinos in south Florida. The tribes don't release figures by the annual Indian Gaming Industry Report put their 2007 revenues at $1.6 billion.
The Seminoles operate slot machines and other Class III games while the Miccosukees are currently limited to Class II games.
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South Florida casinos hold good hand in slump
(The South Florida Sun-Sentinel 10/8)
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Experts predict good business for Florida tribes
Wednesday, October 8, 2008
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