Howard Stutz: Tribal gaming revenues on the decline in California

Wednesday, September 28, 2011  

"Revenue reports are tough to come by from Indian casinos and their tribal governments, which are sovereign nations and not publicly traded companies.

Southern California economist Alan Meister puts together an annual and comprehensive financial look at the nation's Indian gaming market for Casino City Publications.

The most recent numbers cover 2009 and California, which has 66 casinos according to Meister's study, and which continues to lead the nation in Indian gaming figures. That year, California's Indian casinos reported more than $6.94 billion in gaming revenues, roughly one-fourth of the annual revenues produced by tribal casinos nationally.

California's Indian casinos benefited from Nevada's troubles during the economic crisis. High gasoline prices kept Southern Californians home rather making an expensive weekend trip up Interstate 15. Several of the larger Indian casinos added amenities and increased the size of their slot machine floors through renegotiated compacts with the state.

In the north, large casinos near Sacramento have kept residents close to home, rather than making a long drive to Reno.

Recently, the ills affecting Las Vegas' locals gaming market -- high unemployment and a horrible housing crisis -- are having the same effect on California's Indian gaming community."

Get the Story:
Howard Stutz: California casinos see revenue decline (The Casino City Times 9/27)