November 07, 2024
GAMBLING

Indian casino revenue a record $25B in 2006

WASHINGTON – Indian gambling pulled in $25 billion in 2006, 11 percent more than the year before as the industry’s explosive growth outpaced Las Vegas.

Federal figures announced Monday, compiled from 387 tribal facilities in 28 states, show Indian gambling revenue has nearly doubled in five years.

Indian casinos brought in $12.8 billion from gambling in 2001, $22.5 billion in 2005 and $25.1 billion in 2006, according to the National Indian Gaming Commission.

“The continued growth is eye-opening considering the tribal gaming industry is still relatively young,” said commission Chairman Phil Hogen.

In 1988 Congress passed a law creating the legal framework for Indian gambling. The law let Indian tribes, with the consent of a state’s governor, run slot machines and other profitable games on their reservations not allowed elsewhere in the state.

There are now 415 Indian gambling facilities nationwide operated by more than 200 tribes. They range from full-blown casinos with slot machines and other Las Vegas-style games to smaller gambling centers offering video poker, bingo or other games short of slots.


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