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Land Casino Gambling Revenues Fall Around US
LAS VEGAS, NEVADA --
The American Gaming Association announced this week that revenue from casino gambling in the US fell by over five percent last year against the previous year. Among twelve states that regulate casinos, eight saw income decline the past year.
Operators of land-based gaming were quick to blame the economy and the lingering recession as the cause for the slippage.
"People had less money to spend on our products," says Frank Fahrenkopf, head of the AGA. "Until people go back to work, businesses that depend on discretionary income are going to continue to struggle."
Of the four states that had increases in casino revenue, Colorado and Missouri had changes in gaming law which spurred gambling activity, and Indiana and Pennsylvania added new venues that did not exist in previous years.
Despite the economic troubles across the country, online gambling and lottery revenues remained steady. Even a ferocious campaign by the federal government to attack the movement of money to and from online casinos did not deter growth for Internet gaming, leading some analysts to speculate land gaming may face more issues than temporary economic problems.
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