Tribal Casinos Subject to Varying Levels of Success
Many mainstream sources consider tribal gaming as a license to print money, guaranteed to return enormous wealth to Indian operators. But gambling analysts say there is a great disparity among effectiveness of tribal casinos, and that gambling is not always a cure-all.
Analysts say tribes operating in states with or near large populations make the majority of revenues, while other barely break even. Gaming industry reports show that the Mohegan Sun Casino and Foxwoods Casino in Connecticut earned as much as over a hundred tribal casinos in Oklahoma.
The number of operating casinos keeps growing, as 425 gaming venues are run by 230 tribes in 28 states. But not all make tribal members rich and prosperous.
Still,the benefits to people used to living on the wrong side of the poverty line are relative. Not every tribe aims to create enough revenue to allow members to live off dividends.
"There are still quite a number of tribes who are happy to have just created jobs for their members, as opposed to generating a lot of revenues," said Jacob Coin, former director of the National Indian Gaming Association.
Noting that not every tribe can have the success of some of the California tribes, or the Seminoles in Florida, Coin still pointed out, "Having said all that, casinos are probably the only economic tool that has worked for Indians."
Tribal gaming generates $26.5 billion a year in revenue, but forty percent of that is earned by the California and Connecticut tribes.
