Indian casinos in the US generated a $ 19 billion profit, with a 12% increase over 2003, according to a report on casino industry released today.
In Florida, for example, the Indian casinos took in $ 938.6 million, versus $ 662.9 million in 2003. Florida's seven gaming centers ranked in almost $ 1 billion in profits.
According to Alan Meister, an
economist with Los Angeles-based The Analysis Group , and author of the 2005-2006 Indian Gaming Industry Report, ''Florida continues to be the hot spot for multimillion-dollar growth in Indian gaming, and it is going to get bigger".
The 56 Indian casinos in California were twice as profitable than the world largest casinos from Connecticut which generated $ 2.2 billion. The most prolific Indian gaming region from California appears to be San Diego County.
According to Meister's research, Indian casinos profits in the US were responsible for more that 530,000 jobs, and contributed $ 52,3 billion to the American economy in 2004.
The Seminole Tribe, dominating the gambling facilities in Florida announced yesterday their intention to formally start negotiations with the government to expand their gaming in order to include Las Vegas-style slot machines and table games.
Only 16 of the 405 Indian gaming centers located in 30 American states, operated by 228 tribes have special agreements with local governments for income sharing, according to Meister's report.