TRIBAL GAMING REVENUES SURPASS NEVADA TOTAL IN '00

LAS VEGAS
Fri, 23 Feb 2001

By JEFF SIMPSON
lasvegas.com GAMING WIRE

    The Nevada casino industry last year lost its position  as the top 
revenue producing gaming market in the country when its  $9.6 billion 
in winnings were surpassed by the $9.9 billion won by  U.S. tribal casinos.

   That trend is expected to continue this year, as the U.S. riverboat 
market surpasses Nevada's projected 2001 casino win figure, according 
to projections released Friday by the investment banking firm of 
Merrill Lynch.
    Riverboat gaming revenue is projected to grow by 6 percent this 
year, reaching $9.9 billion, while Nevada casino winnings are 
expected to increase 2 percent to $9.8 billion.
   Merrill Lynch estimates that tribal casino revenues will grow by 29 
percent this year to $12.2 billion.

    Merrill Lynch financial analyst David Anders emphasized that the 
report's tribal gaming numbers are estimates, and are not as accurate 
as the revenue numbers reported by individual states.
  "The (gaming) pie is getting bigger, and it's obvious financing (to 
build new and bigger casinos) is becoming available in markets with 
virtual monopolies and limited competition," Nevada Gaming Control 
Board Chairman Dennis Neilander said of the trend.

   If the tribal and riverboat figures are divided into geographic 
markets scattered about the United States, Nevada's total far 
outdistances the other jurisdictions.

  Las Vegas Strip casinos won $4.9 billion and Atlantic City casinos 
earned $4.3 billion last year, while Mississippi with $2.7 billion in 
casino winnings generated the largest revenues of all riverboat 
states.
   "What Nevada has to offer is a different experience than these 
other markets," Neilander said Friday.
 

Website: www.lasvegas.com/gamingwire/
Email: gamingwire@lasvegas.com
Phone: (702) 383-0478
Fax: (702) 380-4590


 

Gamingfloor.com