RubinBrown Gaming Stats 2014
Growth In 2013, 17 of the 19 states that permit table games reported table game revenues. Collectively, the 17 states reported an increase in table games revenue of 5.8% or $418.71 million. The expansion of gaming in new markets (encompassing Maryland, Rhode Island, Ohio, and Maine) contributed $357.53 million towards the overall growth of table games. Even though a significant portion of the growth is attributed to market expansion, the states that did not experience a significant growth in gaming still saw table game revenue growth in 2013. Challenges Compliance with the Title 31 reporting requirements is an emerging challenge for the table games segment of the gaming industry. In the Fall of 2013, the Director of the Financial Crimes Enforcement Network (FinCEN) announced at the Global Gaming Expo that FinCEN will be placing greater efforts and scrutiny on gaming operators Title 31 compliance. In addition, FinCEN is looking at increasing the regulations around understanding a patron’s income sources when issuing credit. The potential regulations will be focused on upholding the integrity of the industry; however, operators will have to balance the desire to please customers while adhering to more stringent regulatory standards. Opportunities Opportunities for growth in table game revenues are primarily in the introduction of new gaming jurisdictions and the transition to online table games. Currently, there are four states (Florida, New Mexico, New York, and Oklahoma) that only permit slot-only casinos. Of these four states, New York will most likely be the next state to offer table games as the state approved the expansion of full-scale casino resorts in late 2013. The transition to online gaming is also a significant opportunity for table games. During the first ten months of interactive (online) gaming, the Nevada market generated $8.52 million in online poker revenues. While the revenue was not significant, the possibility of extending online gaming into states with large population centers (e.g. California) provides a significant opportunity for the industry.
8 | 2014 Commercial & Tribal Gaming Stats
Made with FlippingBook Online newsletter