Tuesday, 22 November 2011

Tribal gaming revenues soaring by $1 billion a year, industry reports

Tribal gaming revenues soaring by $1 billion a year, industry reports Tribal gaming revenues in the U.S. may exceed those of the 12 leading commercial gambling states, including Nevada, in the short-term, according to industry experts.

Just last year, tribal gambling brought in more than $26 billion while commercial gambling revenue totaled $34 billion, said Frank Fahrenkopf, the president and Chief Executive Officer (CEO) of the American Gaming Association. “For a number of years now, tribal gaming revenues have been growing faster than the commercial side of gaming,” Fahrenkopf said.

Tribal casino revenues may continue to increase by more than $1 billion a year, forecasted Michael Anderson of Washington, D.C., the former deputy assistant secretary of Indian Affairs at the Interior Department.

The economic growth is dramatically changing lives. Citizens of the United Auburn Indian Community used to live in poverty in northern California, sleeping in cars or hunkering down in rundown houses with plastic sheets for windows.

But, in five short since the opening of the Thunder Valley Casino near Lincoln, Calif., the 275-citizen tribe has left the squalor for upscale housing, opened a pre-kindergarten to 12th-grade school and have provided citizens with comprehensive health care coverage.
Tribal casinos profit reports are confidential, but Nevada gambling experts estimate that Thunder Valley takes in $500 million to $600 million annually and probably exceeds the revenue of all the casinos in Reno.

With the sovereignty of the Auburn Indians, Thunder Valley doesn’t have to pay California taxes on the profits that flow into the tribal treasury. Tribal citizens each get a per capita share of the profits, as long as they have a high school diploma or GED and have taken courses in finance.
A tribal spokesman said that the Auburn Indians have become one of the most generous philanthropic organizations in northern California, donating $1 million to Sutter Auburn Faith Hospital.

Las Vegas USA Casino

“This is their hospital, the one that they went too primarily to the emergency room, because they didn’t have their own doctors,” Doug Elmets, the tribal spokesman, said. “They had to go there, wait in line for hours to get medical care. Many of the tribal members have had kids in that hospital and now they are able to give back $1 million.”

A planned December 17 grand opening of the latest tribal property in northern California, the Red Hawk Casino near Placerville, is eagerly awaited. The tribal casino of the Mewalk Tribe could help grow the northern California gambling market.

© Copyright 2008 Online Casino Crawler This material may not be published, broadcast, rewritten, or redistributed.





“Why Gamble Online?”: There are some ways to gamble, in a land based casino or online casino. Right now we are going to give you  some reasons why it is better to do it online. More...

Partners Casino listing
Casino Tales-All about casino games, tips of your favorite online casino right here...
RSS Online Casino Crawler
Free Subscription Bonus Codes: The nice thing about an emerging & competitive industry is that consumers tend to get courted rather nicely. What bonus did you received? Learn More...
Sun Palace Casino
Cash-Out Options: In an actual casino cardroom, the term cash out is fairly literal. Learn More…
Read more articles related with the marvelous world of Online Casinos here...
Play Vegas Casino Online
and  join the excitement
of playing at the
number one online casino

Vegas Casino Online


View the original article here

Gambling grew by 10 percent in recent months in Italy

Gambling grew by 10 percent in recent months in Italy "Wagers for April, including slot machines, sports betting, scratch cards and lotteries, were more than $4 billion," according to a statement from AAMS.


Gambling in Italy grew by 10 percent in the first four months of the year to $23,950 billion, the state gambling authority AAMS said.

A year ago, in April 2008, wagers were 4.076 billion. During the first quarter of this year, Italian gaming company Lottomatica reported higher results and said two-thirds of the rise it expected in full year earnings before interest, tax, depreciation and amortisation (EBITDA) came from its Italian activities.

Lottomatica holds the concession for Italy's Lotto game, Gratta & Vinci scratch cards and is also expanding in sports betting and online poker.

A competitor, Snia, is active in sports betting and operates Italy's largest horse betting network.
This morning, Lottomatica shares were up 2.59 percent at 15.85 euros and Snia shares up 1.82 percent to 2.80 euros, outperforming Milan's S&P/MIB index which was off 1.71 percent.

Chart of Italian gambling (millions of euros):

© Copyright 2009 Online Casino Crawler This material may not be published, broadcast, rewritten, or redistributed.





“Why Gamble Online?”: There are some ways to gamble, in a land based casino or online casino. Right now we are going to give you  some reasons why it is better to do it online. More...

Partners Casino listing
Casino Tales-All about casino games, tips of your favorite online casino right here...
RSS Online Casino Crawler
Free Subscription Bonus Codes: The nice thing about an emerging & competitive industry is that consumers tend to get courted rather nicely. What bonus did you received? Learn More...
Sun Palace Casino
Cash-Out Options: In an actual casino cardroom, the term cash out is fairly literal. Learn More…
Read more articles related with the marvelous world of Online Casinos here...
Play Vegas Casino Online
and  join the excitement
of playing at the
number one online casino

Vegas Casino Online


View the original article here

Washington state moves forward with new tribal gambling pact

A forthcoming hearing will examine a number of proposed changes in the Tulalip Tribes' gambling compact with the state of Washington. Changes may include allowing for the hiring of tribal members as casino workers who may not currently qualify under state rules.

The Washington State Gambling Commission on Thursday in Vancouver, Wash.is taking up the proposals.

Once approved, the amended compact will then go to Gov. Chris Gregoire for her expected endorsement and onto the Department of the Interior for final approval.

This pact is the state's oldest. Originally signed in 1991, it lays out the interplay of the state and the tribe in operation of gambling facilities. Past amendments, for example, have expanded hours of operation and increased numbers of machines at the two Quil Ceda locations.

The amendment deals with such things as control of tribal records held by the state, types of financial institutions with which the tribe can partner and resolution of disputes.

Most of the changes reflect the language of the state's other compacts with federally recognized tribes.

© Copyright 2009 Online Casino Crawler This material may not be published, broadcast, rewritten, or redistributed.


View the original article here