California tribes weather national recession

Tuesday, October 6, 2009  

Despite seeing drops in their gaming revenues, California tribes will emerge from the national recession "profitable," according to a report from Fitch Ratings.

Fitch predicts tribal gaming revenues in the state will drop for the second year in a row this year. But the long term outlook remains favorable.

“California’s tribal casinos will remain extremely profitable operations based upon their favorable geographic locations in very lucrative regional gaming markets,” Fitch said, Sacramento Business Journal reported.

According to the National Indian Gaming Commission, revenues in the region that includes California dropped 5.8 percent in 2008.

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