USA tribal casinos raked big time over the past years
16 February 2005
Currently, United States hosts 411 Indian casinos operated by 223 tribes in 28 states. Due to the tribal sovereignty, they are absolved from paying state or local taxes and are exempt from most zoning and other laws. Local communities have filed complaints regarding the lean resources and growing traffic opposing the existence of tribal casinos. The officials of the Indian Gaming Association aggressively contended that tribal gambling generated $5.5 billion in federal taxes over the last year, together with additional 553,000 jobs, for the most part for non-Indians.
The records revealed that $18.5 in revenues from Indian casinos have supplanted by far the margins of Nevada's gambling industry. Since 1988, when Congress passed gambling legislation, national Indian casinos have mushroomed, exhibiting a 10 percent growth over more than 10 year period. The leaders asserted that their once destitute financial situation has been averted by the casino gambling.
Mashantucket Pequot tribe's Foxwoods Resort Casino, releasing recently only slot revenue figures, believed to have grossed over $1 billion in the last year. The tribe came out with an announcement that since 1993, a year after Foxwoods was launched, $2 billion in slot machine revenues were handed over to the state. Both casinos were contracted to allot 25 percent of their slot revenues to the state's coffer. According to some casino experts, the growth of tribal casino industry is expected to climb at the same pace for quite a while.
Source: Online Casinos News Staff
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