AGA CEO: Internet Gambling Would Help Land Casinos

This story was published more than 12 years ago.

The CEO of the American Gaming Association told reporters earlier this week that internet gambling would be more likely to aid land based casinos rather than harm them.

Frank Fahrenkopf, the trade body's Chief Executive made the comments after he presented the AGA's annual “State of the States: The AGA Survey of Casino Entertainment” report on May 10th.

Fahrenkopf said that the AGA has spent a significant amount of money and time researching the impact legalized internet gambling would have on land based casinos. His firm has concluded that there would be little change.

As a whole Fahrenkopf says that the gambling industry as a whole appears to be breaking out out its long and sustained slump, with gross gaming revenues and tax revenues jumping up in the United States' nearly 500 casinos and 517 card rooms to $35.6 billion, a jump of 3%.

Tax revenue was also up 4.5% to $7.93 billion last year and the gambling industry in America employed 339,000 people who earned more than $12.9 billion.

Las Vegas was also the top grossing area in the States, with the Las Vegas Strip bringing in $6.07 billion in gross gaming revenues.