California Gambling Revenue Rises
As reported by the San Francisco Chronicle: "Gambling in California, fueled in large part by the expansion of Indian casinos, has grown into an industry worth more than $13 billion a year, according to a report released Wednesday by the state attorney general. "Indian casino revenue made up the biggest single chunk, with an estimated $5.78 billion in 2004, the latest year for which figures were available, the 181-page report said. Researchers found modest revenue benefits to state and local governments. "For example, from 2001 to 2004, tribal casinos contributed $154.6 million into a pair of state revenue-sharing funds. The contribution is dwarfed by the roughly $17 billion in gross revenue Indian casinos saw in the same period.
"Horse-race wagering came in second in annual gambling revenue at $4 billion, followed by $3 billion by the state's lottery sales and $655 million by card clubs.
"Gambling has emerged as one of the state's biggest industries when compared to such giants as agriculture, whose revenue totaled $34.3 billion in 2004."