Revenue at U.S. casinos jumped more than 6 percent in 2012, the first significant increase in three years as economic growth picked up speed and more casinos opened in several markets. Casino revenue grew by a fraction of 1 percent in 2011 and 2010 and fell nearly 6 percent in 2009 as the steepest economic downturn since the Depression took hold.
As expected, Nevada, California are the top two states in casino revenue, followed closely by New York state.
Year-to-year revenue changes are vastly different from one state to another. Some experienced new gambling expansion in a big way, such as Ohio, for example, total gambling revenue jumped by one-third from 2011 to 2012 as casino gambling ramped up. Similar in Maryland, where total gambling revenue jumped to $1.15 billion in 2012 from $760.6 million in the same period.
Other areas of revenue increase incline include:
- Louisiana – Its 14 riverboats, four racetrack casinos and Harrah’s land-based casino brought in nearly $194.6 million in October, 3.9 percent better than the $187.3 million the gambling halls won the year before.
- Mississippi – A strong performance by Mississippi’s Gulf Coast casinos boosted gambling revenue to $167 million in October.
- Pennsylvania – Pennsylvania surpassed New Jersey in overall revenue for the first time in 2012. The 11 casinos in cities across the state generated almost $1.5 billion in tax revenues that year.
- New York – The year-old Resorts World New York in Queens is the state’s first casino that is not attached to a racetrack. It helped revenues leap 43% last year. The nearby Empire Raceway in Yonkers is still the biggest money maker in the state
That’s all for now.