Casino City announced the release of this year’s edition of its Indian Gaming Industry Report. The latter poses as the most comprehensive study of the Indian gambling industry to date and is penned by Dr. Alan P. Meister, a Principal Economist at the Nathan Associates Incorporated. The report aims at providing extensive nationwide and state statistics for the calendar year of 2015, which is the most current data on tribal gaming available.
The report includes key points on gaming and non-gaming revenue, information on the Class II and Class III gaming licenses, the number of tribes, table games, gambling establishments and slot machines, as well as data on the tribes’ revenue sharing with the state and the federal governments. The report also provides an overview of the historical perspectives and trends in the Indian gambling industry as well as an assessment of the most recent performance of tribal gaming venues.
Through comprehensive research and analysis, Dr. Meister established that the Indian gaming industry experienced six consecutive years of growth and finally succeeded in surpassing its pre-recession growth rates. The report also indicates that the Indian gambling sector has outperformed other casino gaming sectors in the country and now holds the position of the largest segment of the US gaming industry.
One of the most important findings of Dr. Meister is that the gaming revenue generated by the Indian gambling establishments increased nationwide by 5.5% in the calendar year 2015 to reach $30.5 billion, which is an all-time high for this segment. What is more, the revenue from gaming increased in a total of 24 states, with four states registering a double-digit growth.
The report also indicated that the ten top states generated as much as 85% in total gaming revenue at tribal gambling venues. Florida is among the top-ranking states where the tribal gambling industry is generating over $2.6 billion in gaming revenue and is practically growing at a faster pace than the Sunshine State’s economy.
Gambling revenue in Florida alone increased by 9.3%. By 2015, two Sunshine State tribes managed and operated as many as eight landbased gambling establishments, including the popular Seminole Hard Rock Hotel & Casino. Combined, the eight venues are home to over 14,000 video poker and slot machines as well as to nearly 540 traditional table games.
As the Seminole tribe’s compact with the Sunshine State that allows it to offer Class III gaming expired in 2015, Florida legislators are presently discussing whether to maintain the compact as it is or whether to clear the path for further gambling expansion within the state.
Despite the impressive growth in revenue, the tribal gambling industry remains concentrated in few states only. The top states California and Oklahoma rank first and second, respectively, and account for about 40% of this segment’s revenues. Tribal gaming revenue in the Sunny State amounted to $7.9 billion while that in Oklahoma stood at $4.2 billion. Florida, Washington, and Arizona ranked at third, fourth and fifth place, respectively, and registered nearly 63% in tribal gaming revenue.
The Casino City report also indicated that as of 2015, the 242 Native American tribes operated and managed as many as 494 gambling establishments which, when combined, housed almost 357,000 slots and video poker machines as well as 7,700 table games. The tribal gambling facilities generated $103 billion in output on average, creating 770,000 jobs. The state, local and federal governments collected as much as $1.76 billion in direct revenue sharing payments from the Native American tribes. The latter paid $10.5 billion in combined taxes.
The Indian Gaming Industry Report functions as a guideline for gaming industry insiders, gambling regulatory bodies, and tribal and non-tribal governments and is a direct result of independent scholarly research.
- Author
Daniel Williams
