Casinos make $34 billion from U.S. gamblers in 2007

Gamblers lost just over $34 billion in 2007 at U.S casinos, according to a report by the American Gaming Association (AGA).

That is a huge rise of 73 per cent from the casinos’ gross gaming revenue of $19.7 billion from 10 years ago and much smaller increase (but still impressive) of 5.3 per cent from 2006.

According to the AGA, 54.5 million people made trips to casinos, at an average of seven visits per person.

"The casino entertainment industry has experienced high levels of growth and maturation in recent years," said Frank Fahrenkopf, chief executive of the AGA.

"In looking at the last decade, it is evident that we are not only an economic force on a national level, but that we are major players in the local communities where we provide steady jobs and economic development."

In a separate survey, the AGA has reported that 84 per cent of people are responsible gamblers and set a budget to gamble with.

Furthermore, 86 per cent of people believe that they would be allowed to decide “what is best for them with respect to casino gaming”.

Nevertheless, the results should not mask over the problems the casino industry is facing in the U.S. amid tough economic times.

Casinos have reported a slowdown in earnings, one of the biggest casino companies MGM Mirage have had to make hundreds of redundancies and Tropicana Entertainment LLC have filed for bankruptcy protection.

Editor, - 2008-05-15 11:01:45

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