NIGC announces 2005 gaming revenue

GGR UP 16% TO US$22.63 BILLION

The National Indian Gaming Commission (NIGC) yesterday announced that the 2005 gross gaming revenue for Indian gaming facilities was US$22.63 billion, an increase of US$3.3 billion or 16% over gross gaming revenue in 2004. These numbers may be slightly adjusted after additional information is added to the audited financial statements and fee worksheets supplied for the 2005 fiscal year to the NIGC.

According to Chairman Phil Hogen, “The public’s confidence in well-regulated, attractive gaming opportunities offered by Tribal governments is reflected in the strong, steady growth which tribal gaming revenues continue to experience.” He added, “Throughout Indian Country needs that would not otherwise be met by Tribal governments are now being funded by Tribal gaming revenues. Likewise, communities located near the over 400 Tribal gaming operations which generate this revenue, share in this prosperity, that was largely unknown prior to the enactment of the Indian Gaming Regulatory Act.”

In the ten years since 1995, tribal gaming revenue has grown from US$5.46 billion to the last year’s US$22.63 billion, and the number of operations has risen from 215 to 391. The NIGC divides the tribal operations into six regions and Region II, which includes California, has shown the biggest revenue jump. Region V, comprising of Kansas, Oklahoma and Texas, has seen the greatest rise in operations – a total of 93 compared to 60 in 2000. Total tribal gaming revenue for 2005 in Region II was just over US$7 billion from 57 gaming operations, compared to around US$1.73 billion in Region V.

Chairman Hogen noted “With continued steady growth in the Indian Gaming industry, additional scrutiny is inevitable. Continuing the current oversight and regulatory makeup is vital for continued success for Indian gaming.” The NIGC is an independent regulatory agency established within the Department of the Interior pursuant to the Indian Gaming Regulatory Act of 1988. (E-07.12.06)

© Copyright 2006 CasinoCompendium



>>> return to archives
>>> return to frontpage