Indian Gaming Revenues rise 1.5 Percent in 2014
The National Indian Gaming Commission released their report on revenues for 2014. The total revenues generated in 2014 amounted to $28.5 billion which meant that this is the fifth consecutive year of growth for gross gaming revenues.
Chairman of the National Indian Gaming Commission, Jonodev O. Chaudhuri said in a press statement, “Overall, the Indian gaming industry remains stable. Stability comes from solid operations, strong tribal management, and effective regulation by the Indian gaming’s regulatory community, which includes the NIGC and more than 5,400 tribal regulators. Sound regulation is an essential pillar of support for the critical avenue of self-sufficiency and self-determination that Indian gaming has proven for so many tribal nations. Sound regulation preserves public confidence, protects tribal assets, and promotes a safe and fair environment for all people who interact with the industry.”
An interesting fact is that 60 percent of the Indian Gaming Industry is made up of operators who make less than $25 million which strengthens the claim that many Indian Tribes use gaming revenues to fund economic development on reservations which include educational and health activities. In 2014 88 Indian gaming operators recorded gaming revenue of less than $3 million, 76 operators reported revenue of between 43 million and 410 million and 96 operators reported revenues of between $10 million and $25 million.
Chaudhuri went on to say, “The Indian gaming industry is driven by the demographics of each area. Many tribal gaming operations are in rural parts of the country where jobs are greatly needed for both natives and non-natives alike. Tribal gaming revenue – unlike commercial gaming – is heavily regulated, purposed specifically to support Tribal governmental services, to benefit Indian Nations.” Table 2 shows the GGR growth rate by NIGC administrative regions.”