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Gamblers in the United States have been playing those one-armed bandits a whole lot less lately.
The American Gaming Association has reported that revenue from casino gambling fell 5.5% overall last year. The reports says the take fell $1.8 billion from the $32.5 billion of revenue in 2008. Earnings have fallen in eight of the 12 states that have casino gambling.
“There’s no way to sugarcoat it,” says Frank Fahrenkopf, CEO of the trade association.
Gamblers tightened their wallets making for an extremely tough year in 2009 and the recession is almost certainly to blame, says Frank.
“People had less money to spend on our products,” he says. He wouldn’t predict how the industry would fare this year but says, “Until people go back to work, businesses that depend on discretionary income are going to continue to struggle.”
According to the report, spending on lottery tickets, the gambling that most Americans take part in, hasn’t dropped that much at all. In the States and Washington, D.C., lottery revenues has stayed relatively still being recorded at $53.1 billion in fiscal year 2009, compared with $53.4 billion from the previous year.
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