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The Recession’s still going – US gambling revenues still down!

May 10, 2010
Gambling Tune

Just when we thought it was safe to get back in the water, research shows that the dreaded recession is still pressing down on Americans. Overall, national revenue through gambling dropped over 5%, but progress in some states even during the recession gives a nation hope.

USA Today: Casino gamblers tightened purse strings in recession

Americans have been rolling the dice less as the economy soured. According to the American Gaming Association, revenue from casino gambling fell 5.5% overall last year, with the take falling $1.8 billion from the $32.5 billion of revenue in 2008. Revenue fell in 8 of the 12 states that have casino gambling.

Interestingly, consumers spent more last year gambling at casinos than they did on candy or movie tickets. Spending on lotto tickets hasn’t dropped much. According to La Fleur’s 2010 World Lottery Almanac, states had lottery revenues of $53.1 billion in fiscal year 2009, compared with $53.4 billion in fiscal year 2008.

Six of 12 states with racetrack casinos reported revenue increases, and six reported decreases. Maine had the largest increase, 17.2%, and Iowa took the biggest hit, a 6.7% decline.

Colorado, Indiana, Missouri and Pennsylvania were the only states that posted an increase in casino gambling revenue, according to the association. Pennsylvania saw revenue rise because two casinos opened last year. Kansas, brought in nearly $2 million after its first casino opened

New gaming laws increased some revenue. Colorado relaxed bet limits and increased hours and types of games. Missouri removed loss limits. Casinos in 13 states employed about 328,000 workers last year, compared with about 357,000 in 2008. Casinos contributed $5.6 billion in tax revenue to state and local governments last year, a 1.6% drop from 2008.

Stateline: Gambling slowdown reduces states’ take

The economic slowdown that’s battered the bottom line of states has also reduced their take of gambling taxes, according to a report released Thursday. The American Gaming Association said gaming revenues dropped 5.5 percent across the country last year. State revenues from taxes on gaming dropped 1.6 percent.

New Jersey took the biggest hit, as gaming tax revenues dropped 18.6% between 2008 and 2009. Nevada and Mississippi were also hard-hit, losing 10.4% and 9.4%, respectively.

Four of the 13 states that allow commercial casinos actually did better last year than in the previous year. The report credits voter initiatives in 2008 that legalized more gambling for boosting revenues in both Colorado and Missouri.

Colorado raised its bet limit from $5 to $100; and state gaming taxes increased by 2.6%. Missouri did away with a rule that limited gamblers’ losses to $500 in a two-hour period; its taxes went up 5.9 percent. By far the biggest revenue winner, though, was Pennsylvania, which opened two new casinos in 2009. Its gaming revenues jumped by 21.6%.

Pittsburgh Post-Gazette: State’s casino numbers buck national trend

Pennsylvania, where new casinos are still opening and legalized slot play is still a novelty, added more than 3,200 gambling-related jobs and yielded big revenue increases in 2009, a year in which casino revenues declined nationally by more than 5%.

Statistics were presented in the American Gaming Association’s annual industry report, which was released Thursday. Pennsylvania’s revenues increased by almost 22%, aided by the 2009 opening of Rivers Casino on the North Shore and the Sands Casino Resort in Bethlehem.

Nationally, casinos took in $30.74 billion in 2009, down nearly $1.8 billion from 2008. It’s the 2nd year of declining casino revenues nationally, and as a result, the number of people employed in the industry dropped by almost 30,000, or 8.1%.

Nevada’s casinos saw 2009 revenues decline by 10.4% from 2008 numbers, while Pennsylvania’s neighbors in Atlantic City, N.J., performed even worse, with a 13.3% decline. Western Pennsylvania is still in the running for 2 more casinos – one, a proposed racetrack casino in Lawrence County; the other, a smaller “resort” casino at Nemacolin Woodlands Resort in Fayette County.

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Gambling Tune

Just when we thought it was safe to get back in the water, research shows that the dreaded recession is still pressing down on Americans. Overall, national revenue through gambling dropped over 5%, but progress in some states even during the recession gives a nation hope.

USA Today: Casino gamblers tightened purse strings in recession

Americans have been rolling the dice less as the economy soured. According to the American Gaming Association, revenue from casino gambling fell 5.5% overall last year, with the take falling $1.8 billion from the $32.5 billion of revenue in 2008. Revenue fell in 8 of the 12 states that have casino gambling.

Interestingly, consumers spent more last year gambling at casinos than they did on candy or movie tickets. Spending on lotto tickets hasn’t dropped much. According to La Fleur’s 2010 World Lottery Almanac, states had lottery revenues of $53.1 billion in fiscal year 2009, compared with $53.4 billion in fiscal year 2008.

Six of 12 states with racetrack casinos reported revenue increases, and six reported decreases. Maine had the largest increase, 17.2%, and Iowa took the biggest hit, a 6.7% decline.

Colorado, Indiana, Missouri and Pennsylvania were the only states that posted an increase in casino gambling revenue, according to the association. Pennsylvania saw revenue rise because two casinos opened last year. Kansas, brought in nearly $2 million after its first casino opened

New gaming laws increased some revenue. Colorado relaxed bet limits and increased hours and types of games. Missouri removed loss limits. Casinos in 13 states employed about 328,000 workers last year, compared with about 357,000 in 2008. Casinos contributed $5.6 billion in tax revenue to state and local governments last year, a 1.6% drop from 2008.

Stateline: Gambling slowdown reduces states’ take

The economic slowdown that’s battered the bottom line of states has also reduced their take of gambling taxes, according to a report released Thursday. The American Gaming Association said gaming revenues dropped 5.5 percent across the country last year. State revenues from taxes on gaming dropped 1.6 percent.

New Jersey took the biggest hit, as gaming tax revenues dropped 18.6% between 2008 and 2009. Nevada and Mississippi were also hard-hit, losing 10.4% and 9.4%, respectively.

Four of the 13 states that allow commercial casinos actually did better last year than in the previous year. The report credits voter initiatives in 2008 that legalized more gambling for boosting revenues in both Colorado and Missouri.

Colorado raised its bet limit from $5 to $100; and state gaming taxes increased by 2.6%. Missouri did away with a rule that limited gamblers’ losses to $500 in a two-hour period; its taxes went up 5.9 percent. By far the biggest revenue winner, though, was Pennsylvania, which opened two new casinos in 2009. Its gaming revenues jumped by 21.6%.

Pittsburgh Post-Gazette: State’s casino numbers buck national trend

Pennsylvania, where new casinos are still opening and legalized slot play is still a novelty, added more than 3,200 gambling-related jobs and yielded big revenue increases in 2009, a year in which casino revenues declined nationally by more than 5%.

Statistics were presented in the American Gaming Association’s annual industry report, which was released Thursday. Pennsylvania’s revenues increased by almost 22%, aided by the 2009 opening of Rivers Casino on the North Shore and the Sands Casino Resort in Bethlehem.

Nationally, casinos took in $30.74 billion in 2009, down nearly $1.8 billion from 2008. It’s the 2nd year of declining casino revenues nationally, and as a result, the number of people employed in the industry dropped by almost 30,000, or 8.1%.

Nevada’s casinos saw 2009 revenues decline by 10.4% from 2008 numbers, while Pennsylvania’s neighbors in Atlantic City, N.J., performed even worse, with a 13.3% decline. Western Pennsylvania is still in the running for 2 more casinos – one, a proposed racetrack casino in Lawrence County; the other, a smaller “resort” casino at Nemacolin Woodlands Resort in Fayette County.

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Categories: gambling
 
 

Lots of activity regarding the gambling industry in Indiana Legislature

Mar 10, 2010
Money Kids

Brick and Mortar gambling has become a hot issue in the state of Indiana and a few different bills are currently in writing or have recently been voted on. Most notable was a proposal to allow floating casinos to move inland, but there’s also been legislation indicating that parents must give gambling profits to their kids.

Fox News: Staying wet: Casinos not allowed to move inland

An amendment in the Indiana House that would have allowed the area’s floating casinos to move inland was defeated, and the issue appears dead. Representatives voted 57-42 Tuesday and shot down the amendment to a broader Senate casino bill. The bill was pulled from further consideration in the House.

The deadline for Senate bills to be amended in the House is Wednesday and the bill could be reconsidered by then, but the bill’s sponsor, Democratic Rep. Bill Crawford has no such intentions for it.

Rep. Crawford was angered that amendments to boost Indiana’s “racinos” won support but not the inland casino language that was aimed primarily at helping riverboats in Gary, Hammond and East Chicago.

WBIC News 93.1 FM: Inland Casino Bill Rejected

Indiana’s House has voted against amending a gaming bill to allow existing riverboat casinos to convert to land-based operations. The gambling industry and individual casinos struggling to compete with growing operations in neighboring states were split by the issue.

Rep. Matt Bell argued that the amendment would protect an established industry in Indiana from outside competition. He said, “It can be an important part of making our properties competitive, so they can attract individual investment into the state.”

Rep. Mike Murphy, on the other hand, countered that casinos are asking for special treatment, saying: “They don’t want to be treated like a business. They want to be treated like a monopoly.” The point that the gambling industry contributes millions of dollars to the state economy while creating thousands of jobs was argued by Rep. Charlie Brown.

A legislative summer study on gambling indicated that the state could lose over $100 million in gambling tax revenue if it disregards Ohio casinos, which were authorized by voters in November.

The Assosciated Press: Indiana House Backs Taking Deadbeat Parents’ Winnings

The Indiana House recently passed a bill that would require gambling parents who hit big slot machine jackpots at casinos to give winnings to their children.

The bill was approved unanimously and would withhold gambling winnings from parents who are behind on child support payments. It all makes sense in a state where just 58% of child support payments are collected.

Over 165,000 non-custodial parents owe more than $2,000 for back child support in more than $2 billion of delinquencies. The withholdings would generally kick in on slot machine winnings of $1,200 or more. The bill must return to the Senate for consideration of changes the House made.

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Money Kids

Brick and Mortar gambling has become a hot issue in the state of Indiana and a few different bills are currently in writing or have recently been voted on. Most notable was a proposal to allow floating casinos to move inland, but there’s also been legislation indicating that parents must give gambling profits to their kids.

Fox News: Staying wet: Casinos not allowed to move inland

An amendment in the Indiana House that would have allowed the area’s floating casinos to move inland was defeated, and the issue appears dead. Representatives voted 57-42 Tuesday and shot down the amendment to a broader Senate casino bill. The bill was pulled from further consideration in the House.

The deadline for Senate bills to be amended in the House is Wednesday and the bill could be reconsidered by then, but the bill’s sponsor, Democratic Rep. Bill Crawford has no such intentions for it.

Rep. Crawford was angered that amendments to boost Indiana’s “racinos” won support but not the inland casino language that was aimed primarily at helping riverboats in Gary, Hammond and East Chicago.

WBIC News 93.1 FM: Inland Casino Bill Rejected

Indiana’s House has voted against amending a gaming bill to allow existing riverboat casinos to convert to land-based operations. The gambling industry and individual casinos struggling to compete with growing operations in neighboring states were split by the issue.

Rep. Matt Bell argued that the amendment would protect an established industry in Indiana from outside competition. He said, “It can be an important part of making our properties competitive, so they can attract individual investment into the state.”

Rep. Mike Murphy, on the other hand, countered that casinos are asking for special treatment, saying: “They don’t want to be treated like a business. They want to be treated like a monopoly.” The point that the gambling industry contributes millions of dollars to the state economy while creating thousands of jobs was argued by Rep. Charlie Brown.

A legislative summer study on gambling indicated that the state could lose over $100 million in gambling tax revenue if it disregards Ohio casinos, which were authorized by voters in November.

The Assosciated Press: Indiana House Backs Taking Deadbeat Parents’ Winnings

The Indiana House recently passed a bill that would require gambling parents who hit big slot machine jackpots at casinos to give winnings to their children.

The bill was approved unanimously and would withhold gambling winnings from parents who are behind on child support payments. It all makes sense in a state where just 58% of child support payments are collected.

Over 165,000 non-custodial parents owe more than $2,000 for back child support in more than $2 billion of delinquencies. The withholdings would generally kick in on slot machine winnings of $1,200 or more. The bill must return to the Senate for consideration of changes the House made.

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Crooked charity casino turns men into felons

Mar 05, 2010
Casino Charity

Five men in the US state if Indiana face felony charges for operating what they called a charity casino. The proceeds from the games they offered were supposed to go to a local learning center, but instead went into the pockets of the operators and the men they hired to act as dealers.

News Sentinel: 5 face charges in ‘Poker Palace’ probe

The Indiana Gaming Commission has been keeping an eye on the Parnell Poker Palace since it opened back in 2008. After months of investigation, criminal charges have been filed against its owners and organizers who face three gambling-related felony charges, including conspiracy to commit unlawful charity gaming contracting.

Parnell Poker Palace is legally licensed as a nonprofit gambling operation. They offer games like blackjack, poker, dice games and roulette, and have always claimed to donate all their proceeds to the local White’s School of the Arts, a nonprofit group that helps troubled inner-city kids.

The establishment grossed $100,000 every month, but it was recently learned that deposits meant for the charity were actually being placed into a personal bank account. Quick action was taken to put a stop to the operation.

Journal Gazette: 5 men face felonies in charity-run casino hall

In the US state of Indiana, five men face multiple felony charges for operating a now-defunct charity gambling casino.

The case revolves around Ralph White, 54, who runs White’s School of the Arts Community Development Programs. It is a non-profit organization that offers 24-hour day care and educational programs for around 90 children in the town of Fort Wayne. White is also listed as an operator of Parnell Poker Palace and Casino, which offered poker, craps, roulette and blackjack three days a week from noon to 3 a.m.

While Parnell Poker Palace was legally licensed, it is now clear that its operation broke several laws. White and his partners hired dealers and pit bosses and paid them cash, which is against state laws since the casino was listed as a charity organization. They also enlisted “investors” to help finance the gambling den, and then split the revenue between themselves and White’s School of the Arts. According to state officials, however, White’s School of the Arts never filed a charity gaming report.

As it turns out, Poker Palace proceeds were deposited into White’s personal bank account, even though the money was supposedly being donated to White’s School of the Arts.

The Indiana Gaming Commission investigated the case.

Indiana News Center: Criminal Case Filed Against Former Parnell Poker Palace

Three men in Fort Wayne, Indiana, face criminal charges related to a charity gambling center that state officials say operated outside the law.

The building that is now home to a bar called Rick O’Shay’s used to house the Parnell Poker Palace.

The gambling center was run by Larry York, Charles Keller, George Kotsopoulos, Ed Miers and Ralph White. All are now being accused of illegally profiting from poker, blackjack, and other gambling activities at facility.

Court papers detail their crimes. Dealers and pit bosses were hired as volunteers, but were in fact being paid thousands of dollars under the table.

Larry Rollins of the Indiana Gaming Commission said, “When people then decide that they can profit for themselves by conducting charity events, that’s when it really crosses the line.”

The men face several felony charges including promotion of professional gambling, unlawful charity gaming contracting and corrupt business influence.

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Casino Charity

Five men in the US state if Indiana face felony charges for operating what they called a charity casino. The proceeds from the games they offered were supposed to go to a local learning center, but instead went into the pockets of the operators and the men they hired to act as dealers.

News Sentinel: 5 face charges in ‘Poker Palace’ probe

The Indiana Gaming Commission has been keeping an eye on the Parnell Poker Palace since it opened back in 2008. After months of investigation, criminal charges have been filed against its owners and organizers who face three gambling-related felony charges, including conspiracy to commit unlawful charity gaming contracting.

Parnell Poker Palace is legally licensed as a nonprofit gambling operation. They offer games like blackjack, poker, dice games and roulette, and have always claimed to donate all their proceeds to the local White’s School of the Arts, a nonprofit group that helps troubled inner-city kids.

The establishment grossed $100,000 every month, but it was recently learned that deposits meant for the charity were actually being placed into a personal bank account. Quick action was taken to put a stop to the operation.

Journal Gazette: 5 men face felonies in charity-run casino hall

In the US state of Indiana, five men face multiple felony charges for operating a now-defunct charity gambling casino.

The case revolves around Ralph White, 54, who runs White’s School of the Arts Community Development Programs. It is a non-profit organization that offers 24-hour day care and educational programs for around 90 children in the town of Fort Wayne. White is also listed as an operator of Parnell Poker Palace and Casino, which offered poker, craps, roulette and blackjack three days a week from noon to 3 a.m.

While Parnell Poker Palace was legally licensed, it is now clear that its operation broke several laws. White and his partners hired dealers and pit bosses and paid them cash, which is against state laws since the casino was listed as a charity organization. They also enlisted “investors” to help finance the gambling den, and then split the revenue between themselves and White’s School of the Arts. According to state officials, however, White’s School of the Arts never filed a charity gaming report.

As it turns out, Poker Palace proceeds were deposited into White’s personal bank account, even though the money was supposedly being donated to White’s School of the Arts.

The Indiana Gaming Commission investigated the case.

Indiana News Center: Criminal Case Filed Against Former Parnell Poker Palace

Three men in Fort Wayne, Indiana, face criminal charges related to a charity gambling center that state officials say operated outside the law.

The building that is now home to a bar called Rick O’Shay’s used to house the Parnell Poker Palace.

The gambling center was run by Larry York, Charles Keller, George Kotsopoulos, Ed Miers and Ralph White. All are now being accused of illegally profiting from poker, blackjack, and other gambling activities at facility.

Court papers detail their crimes. Dealers and pit bosses were hired as volunteers, but were in fact being paid thousands of dollars under the table.

Larry Rollins of the Indiana Gaming Commission said, “When people then decide that they can profit for themselves by conducting charity events, that’s when it really crosses the line.”

The men face several felony charges including promotion of professional gambling, unlawful charity gaming contracting and corrupt business influence.

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Categories: gambling | casino | gambling | casino