Indian gaming in Florida is big and accepting bigger, admitting not growing as fast as it was a few years ago.
Florida charcoal the No. 3 accompaniment in revenues from Indian gaming, with $2.56 billion in 2016, according to an economist who advance civic trends, aperture machine-by-slot machine, in tribe-run gaming.
During 2016, the best contempo year for which abstracts are available, Indian gaming civic grew by a solid 3.9 percent with a almanac $31.5 billion in absolute revenues, California economist Alan Meister appear Wednesday in his anniversary Bank City’s Indian Gaming Industry Report.
It was the seventh beeline year of acquirement advance back the Great Recession.
It was hardly lower than the industry’s 5.2 percent advance in 2015, acceptable because of a accepted slowing in the civic economy, Meister said.
That said, Indian gaming still grew faster than bartering casinos and racetrack casinos, accepting about 45 percent of the gaming bazaar civic and authoritative tribe-run accessories the better articulation of the market.
Meanwhile, other, non-gambling acquirement at Indian gaming businesses grew 8.2 percent to an best aerial of $4.2 billion.
Among states, Florida’s $2.56 billion in gaming acquirement for 2016 trailed alone California ($8.4 billion) and Oklahoma ($4.4 billion).
In acquirement growth, however, Florida ranked No. 18 in 2016, with an access of aloof 0.4 percent — a cogent arrest from the antecedent year’s 7.3 percent.
In contrast, advance of non-gaming revenues was faster than the civic total, said Meister, who declared both changes as “very pronounced” back compared to the accepted trends.
Looking ahead, Meister said there’s a cogent amount of ambiguity for tribe-run casinos, “given the mix of economic, industry, legal, regulatory, and political challenges adverse Indian gaming, abnormally beneath the Trump administration.” But, he said, the opportunities for advance accommodate the replacement, amplification and adjustment of absolute accessories — article accident in a big way at Tampa’s Seminole Hard Rock Auberge & Casino, the better bank in the state.
The Seminole Hard Rock’s $700 actor amplification in Tampa is abacus a 15-story tower, 200,000 aboveboard anxiety of gaming space, and a 200-seat Italian restaurant.
The broadcast Tampa bank and auberge are accepted to accessible in mid 2019, with a absolute of 5,000 aperture machines, about 200 gaming tables, 800 auberge rooms, 88 suites, 6,000 parking spaces and added than 4,500 full- and part-time employees.
The Seminole Tribe’s expansions of their gaming accessories are acceptable to advice their performance, Meister said in an email to the Tampa Bay Times.
On the added hand, he said, “card apartment accept connected to appropriate on the banked table amateur offered by the Seminole Tribe, appropriately accepting a abrogating impact.”
Another wildcard: the various, alternating and so-far-unsuccessful efforts to aggrandize bank bank in Florida. In November, voters will accede Amendment 3, abundantly backed by Disney and the Seminole Tribe, to accomplish such expansions harder by acute aborigine approval for any anatomy of bank gambling, article now abundantly controlled by the Legislature.
Expanded bank gaming “would acceptable accept a abrogating appulse on the tribe,” Meister said, “depending on the scale, ambit and area of the new gaming.”
Tribe-run gaming in Florida, by the numbers*
Seminole Hard Rock Auberge & Bank Tampa
Seminole Hard Rock Auberge & Bank Hollywood, Fort Lauderdale
Seminole Bank Brighton, Okeechobee
Seminole Bank Coconut Creek, Coconut Creek
Seminole Bank Auberge Immokalee, Immokalee
Seminole Classic Casino, Hollywood
Miccosukee Resort & Gaming Center, Miami
* Statistics are for 2016, the best contempo year available.
** These numbers are growing. In Tampa, the Seminole Hard Rock Auberge & Bank is architecture a 15-story belfry with 564 new auberge apartment and suites, as able-bodied as abacus new aperture machines and gaming tables.
Source: Bank City’s Indian Gaming Industry Report, by Alan Meister.
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