Report: Indian Casinos Revenue up Slightly in 2011

By: AP Email

Posted: Wed 4:04 AM, Feb 27, 2013

HARTFORD, Conn. (AP) - A report says Indian casinos posted higher revenue in 2011 despite a weak economy.

The study, "Casino City's Indian Gaming Industry Report," released Wednesday, says that revenue rose 3 percent, to $27.4 billion.

Indian casinos account for about 43 percent of total casino gambling revenue, just slightly less than 45 percent for commercial casinos. Race track casinos account for the rest.

Indian gambling was slowing before the start of the recession in late 2007 due to legislation, regulations and court decisions. Alan Meister, the industry report's author, says restrictions include the types of games offered by Indian casinos, the states where gambling is permitted and other limits.

The report says the outlook for Indian gambling looks healthy because the economy is expected to continue improving, restoring consumer spending.

In addition, many tribes are upgrading, expanding and replacing casinos.

Burger King to Unveil New Summer Menu, McRib Rival

US Business News

Pricey Beef Puts Heat on Grilling Season
Here's the beef: Enjoy the Memorial Day grilling, because retail beef prices are widely expected to set new records in coming weeks.
DOJ Notified News Corp. About Phone-Record Seizure
The Justice Department notified the parent company of Fox News more than two years ago about its seizure of phone records belonging to one of its reporters, but News Corp., didn't tell Fox about the notification.
Bausch & Lomb Nears Sale
Bausch & Lomb, which is owned by private-equity firm Warburg Pincus, is nearing a deal to sell itself to generic-drug maker Valeant for about $9 billion.
P&G's Lafley Begins New Talent Hunt
Procter & Gamble's A.G. Lafley, newly returned as CEO, must repopulate a depleted pool of top executives as he prepares a major overhaul and considers succession.
U.S. Firm's Gear Seen Aiding Syria
Syria's telecommunications providers continue to use technology by Blue Coat Systems to monitor Internet usage, according to Telecomix, a hacker-activist group that has tracked the previous use of the technology.
Bausch & Lomb Unit to Pay $33.5 Million to Resolve Charges
Ista Pharmaceuticals has agreed to pay $33.5 million to resolve charges that it promoted its anti-inflammatory drug Xibrom for unapproved uses in an effort to boost sales, the Justice Department said.
Hulu Suitors Line Up
Yahoo submitted a bid to acquire Hulu, as the Internet company tries to add more high-quality online video that can appeal to advertisers.
Google Pushes Into Emerging Markets
Google is deep into an effort to fund, build and help run wireless networks in emerging markets such as sub-Saharan Africa and Southeast Asia, a move that could connect a billion or more new people to the Internet.
Abercrombie & Fitch Posts Loss
Teenage-apparel retailer Abercrombie & Fitch reported a sharp drop in quarterly sales, but said it is having success fixing inventory problems.
Turkey Moves to Curb Alcohol Sales
Turkey moved to curb alcohol sales and restrict advertisements in a move likely to deepen outrage among secular Turks who accuse the government of having an Islamist agenda.