Tribal Casinos Show Profits Nationwide, Back Bradley Theory
While much of the casino industry suffers from lost business and declining revenues, many Indian casinos continue to show revenue growth and operate in a very healthy economic environment. Following reports from other states showing a similar pattern, Oklahoma tribal casinos were revealed in a national study to have had double-digit growth and total revenues close to $2.5 billion.
The same study reported that eight other states had growth at Indian casinos greater than ten percent, and nationwide, while many casinos had negative growth, tribal gambling venues had a five percent growth rate.
Florida Seminole and Miccosukee casinos were stated in the study, Casino City's "Indian Gaming Industry Report" as having only a modest growth of slightly over two percent, but the emergence of blackjack and Class III slots at the tribal casinos will surely cause a revenue spike this year.
These reports are continued confirmation of Online Casino Advisory's Sherman Bradley's theories regarding the unusually poor returns by casinos in the current economic maelstrom. Bradley has argued that diversification away from gambling by casino giants has caused the industry to become vulnerable to downturns and recession, a theory that has gained much popularity since Bradley first voiced it.
Bradley said, 'Indian casinos provide an atmosphere much like the Las Vegas casinos of twenty-five years ago. Gambling is the engine that drives them, and any shows, events, or satellite businesses are conducted with the single purpose of drawing gambling patrons.
"While Strip casinos may pull in families looking for pooltime and tours, and young hipsters searching for club life, the Indian venues have by and large concentrated on making every decision based on one question: will this increase wagering?
"Another factor, sometimes beyond the control of state-licensed operations, include the ability to smoke in most tribal locations. Like 80s-era Vegas, tribal casinos are about gambling, with a few fringe benefits thrown in.
"I have said members of the gambling industry is in economic straits because they no longer are in the gambling business. Tribal casinos have largely stayed in the gambling business, and their growth continues despite the country's economy."
