VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
Issue link: https://www.ifoldsflip.com/i/132233
In business gaming casinos enjoy largest gains since beginning of recession By Ed Komenda staff writer The U.S. casino industry captured $37.3 billion in gaming revenues in 2012, a 4.8 percent increase from 2011. That growth rate is largest since the recession swept through the industry in 2008, according to an annual report released by the American Gaming As- sociation. The AGA's "State of the States" survey — a national snapshot of the casino industry based on economic data and public opinion — targets 22 states with commercial casinos and racetracks. Frank J. Fahrenkopf, the AGA's president and CEO, said this year's data is a major bright spot in an industry marred by a recession that hemorrhaged workers and construction projects. "After three years of increasing growth and positive signs in all sectors of the industry, it's clear we've weathered the recession," Fahrenkopf said in a statement. "Whether we look at jobs, casino visitors served or tax revenues being provided, the bottom line is that there is much to be optimistic about in the commercial casino industry." In 2012, consumers spent $10.86 billion in Nevada casinos, 1.5 percent more than in 2011. Of the 22 surveyed states with casinos or racetracks, 15 saw an uptick in consumer spending between 2011 and 2012. In 2012, Nevada had 170,000 commercial casino employees, a 2.4 percent drop from the previous year. In all, the casino industry lost less than 1 percent of its employees, falling from 335,000 to 332,000. The casino industry last year contributed $8.6 billion to the government in tax revenues, up 8.5 percent from 2011. Gaming taxes in Nevada brought in $868 million, less than a percent more than the year before. The AGA survey says 34 percent of Americans visited casinos last year. Many of them did much more than gambling: more than 69 percent of casino visitors ate at a fine-dining restaurants, 55 percent saw a show or concert and nearly 45 percent visited a club. About 26 percent of those visitors said they never or rarely gamble when they visit casinos. In the realm of public opinion, the survey says, the majority of Americans think casino gaming is acceptable for themselves or others. economic development Our business is the key ingredient to your business success. Whether you're in the hot dog business or any other business, Cox Business InternetSM and Cox Business VoiceManagerSM can help your business thrive the way you imagined on the day you opened. Not only is Cox Business Internet Professional 10x faster than basic DSL, but we also include Security Suite and online backup at no additional charge—and our phone service comes with up to 20 of the professional features you need most, like Call Forwarding, so you never miss an important call. 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In Nevada, there are four sites where commercial drones could be tested — near Boulder City; Desert Rock, near the former Nevada Test Site; Stead, north of Reno, and Fallon Naval Air Station. | 2 7 M AY 2 0 1 3 | 5/23/13 2:27:29 PM