US Gambling industry recovers in 2012

The American Gaming Association recent “State of the States” survey for the US gambling industry has found some very good news for the industry.

In 2012 the gambling industry saw revenues climb to $37.3 billion that is a 4.8% increase from 2011.

The good news is that the growth rate is the largest since the recession swept through the industry in 2008.

The survey which is a national snapshot of the casino industry based on economic data and public opinion, targeted 22 states with commercial casinos.

Frank J. Fahrenkopf, the AGA’s outgoing 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 through the recession.

“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.”

Gamblers in Nevada spent $10.86 billion in 2012, that is a 1.5% increase from 2011 figures, when they spent $10.7 billion.

Of the 22 surveyed states with casinos, 15 saw an upward swing in revenues between 2011 and 2012.

However revenues in New Jersey saw a drop from $3.32 billion to $3.05 billion.

The casino industry last year paid in to the tax man $8.6 billion that is up 8.5% from 2011.

The AGA survey says 34% of Americans visited casinos last year.