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US gambling revenues up 5.3 percent to $34 billion in 2007

The American Gaming Association's survey for 2007 shows that Americans spent more money [land] gambling during the year than on movie tickets or candy, but the steady growth of commercial casinos over the past decade could slow due to a slumping US economy and setbacks in new venue plans, reports Business Week.
 
Released by the AGA this week, the survey showed that U.S. commercial casino revenues were up 5.3 percent to Cakepoker$34.1 billion in 2007. By way of comparison, the report cites statistics from the National Confectioners Association and the Motion Picture Association of America, indicating that Americans spent $29 billion on candy and $9.6 billion on movie tickets in 2007.
 
Employment in casinos showed some shrinkage, too with jobs down by 2.3 percent, and staff cuts in Nevada, New Jersey and Illinois. Commercial casinos lost about 8 500 jobs in 2007, and employed fewer than 361 000 workers in 2007 compared with a figure of 369 000 in 2006, the AGA study found.
 
Revenues in New Jersey fell 5.7 percent to $4.9 billion last year as a consequence of competition in Philadelphia suburbs and a law limiting smoking to a portion of the casino floor. A more restrictive ban on smoking approved by the Atlantic City Council is expected to take effect in October, making it the largest gambling spot in the country to bar smoking across the casino floor.
 
Bids to open new American casinos were rejected in Massachusetts (see previous InfoPowa reports) and Kentucky, adding credence to perceptions that the rapid expansion of US land casinos has slowed.
 
"We're facing some difficult economic times," said American Gaming Association President Frank Fahrenkopf. "People said for years that we were recession-proof. I've been saying we're not recession-proof, we're recession-resistant. There's a lot of factors that go into it and I don't think you can point at any one," he said.
 
Fahrenkopf added that tight credit markets would likely not affect most of the $53 billion in commercial casino expansion planned and expected over the next few years.
 
The action at 41 racetrack casinos in 11 US states was more encouraging, the study found, with revenues up 46 percent from $3.6 billion, reaching $5.3 billion in gambling revenues in 2007, and employment growing 22 percent at those operations. Four of the top 10 racetrack casino markets opened new properties over the past 2 years.
 
The AGA report was compiled from data obtained from state regulatory agencies on 467 commercial casinos in 12 states. It did not attempt to track results at casinos run by American Indian tribes.



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Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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