economic impact

Dear Editor:

Though the American Gaming Association does not take a position on expanded gambling, I feel compelled to respond to Lynne Woolley’s opinion piece “The Hidden Costs of Bringing Gambling to Texas.”

First, volumes of peer-reviewed studies have found no correlation between casinos and the social problems Ms. Woolley ascribes to the influence of gambling.

Dear Editor:

John Kostrzewa’s column, “Banking on casinos is a threat to innovative, knowledge-based jobs of the future” (May 30), gets it wrong on gambling.

Mr. Kostrzewa offers no evidence to support his claim that gaming establishments do not create worthwhile job opportunities. Last year, casinos employed more than 330,000 people who earned $13.1 billion. Thousands more were put to work by gaming supply companies. I doubt those men and women would so easily dismiss the opportunities casinos provide.

There’s no way around it – this past year was tough. The down economy dealt most Americans challenges we haven’t faced in some time, if ever. For those of us in the commercial casino industry, that meant people had less money to spend on our products.  Our revenues in 2009 fell 5.5 percent from 2008 to $30.74 billion. This is the story told in the 2010 edition of AGA’s State of the States report.  But as challenging as the year was for most of us, that’s not the entire story.

Though, for many, the rising temperatures signal a time of relaxation, we in the gaming industry are working especially hard to make the most of the summer season.

Good afternoon.  I’m Frank Fahrenkopf, president and CEO of the American Gaming Association, the national trade association that represents the U.S. commercial casino industry in Washington.  I’m proud to tell you that last year we celebrated our tenth anniversary as the voice of the commercial casino industry, and it’s been a tremendously successful decade filled with opportunity, evolution and growth. 

Thank you for that kind introduction, and good morning.  Today I want to give you a look at some of the key issues affecting the gaming entertainment industry on a global scale, as well as a closer look at the U.S. commercial casino market and some trends emerging there that will most likely have an impact in other areas as expansion into other regions of the world continues.

Frank Fahrenkopf’s PowerPoint presentation from the 2009 East Coast Gaming Congress can be downloaded by clicking here.

Good afternoon.  I’m Frank Fahrenkopf, president and CEO of the American Gaming Association (AGA).  I’d like to extend my sincere appreciation to Monografie for inviting me to join you here today.

WASHINGTON – Though the economic recession reached a fever pitch in 2008, it had the second highest revenues on record for the U.S. commercial casino industry. According to a report released today from the American Gaming Association (AGA), gross gaming revenues topped $32.5 billion in 2008, a 4.7 percent drop from 2007’s record-breaking total.

WASHINGTON – Despite a crippling recession during 2009, the U.S. commercial casino industry remained a vital asset to the nation’s economy. According to a report released today by the American Gaming Association (AGA), gross gaming revenues totaled $30.74 billion in 2009, a 5.5 percent drop from 2008.