US casino gambling revenue up

NEW YORK, May 8 (Reuters) - Gambling revenue at U.S. casinos rose 5 percent last year to a record $30.3 billion, as more visitors flocked to a growing number of casinos in states such as Nevada, an industry group report released on Monday said.

The number of Americans who gambled on the Internet also doubled to about 4 percent of the population last year, and poker was popular online as well as offline, according to the 2006 "State of the States" report by the American Gaming Association, the trade body representing casino operators and related companies.

The figures reflect strong growth from companies like Harrah's Entertainment Inc. (HET.N: Quote, Profile, Research), MGM Mirage Inc. (MGM.N: Quote, Profile, Research) and Wynn Resorts Ltd. (WYNN.O: Quote, Profile, Research), which are riding a surge in interest in gambling and the growing popularity of Las Vegas and Atlantic City as tourist destinations.

Gambling revenue increased in 10 of the 11 U.S. states that are home to the country's 455 commercial casinos, the report said. Only Mississippi -- where the industry was badly hit last year by Hurricane Katrina -- saw a drop.

But for the first time in six years the number of Americans who did not approve of gambling rose, with 18 percent calling it unacceptable in 2006, compared with 15 percent last year, according to a survey in the annual report.

Most Americans, however, saw gambling as an important entertainment and tourism option, the report said. Casino-goers were also more likely to have attended college and earn more than the average person.

Poker continued to be a popular game, with nearly one in five Americans playing it last year, the same as in 2004. Revenue from the game increased 37 percent to $207 million in Nevada and New Jersey.

Poker was the most popular game on the Internet, where more Americans are gambling now for its convenience despite confusion about the legality of wagering online, according to the report.

Although the U.S. Justice Department says a 1961 law that forbids interstate telephone betting also applies to the Internet, the report said only 19 percent of the 552 Internet gamblers polled thought it was illegal in the United States.

Almost half the people who gambled online said they did so primarily because it was convenient, while fewer than one in 10 said their biggest reason was the chance to win money, according to the report.


Article courtesy of Reuters

News Added: 08 May, 2006

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