Indian Gaming Today

Monday, November 26, 2007

Is Industry Growth for Indian Gaming Taking a Downturn?

After a short holiday break, we better get right back to it!

After years and years of rapid growth that has outpaced the legalized gambling industry more generally, is Indian gaming revenue heading for a downturn?

According to Lyle Brennan, CEO of Lakes Entertainment, Inc., "Indian gaming is not a growth business." Lakes Entertainment hasn't signed a management deal with a tribal casino in three years.

Of course, IGRA's limitations on management contracts are meant to encourage tribes to operate their own casinos. Under IGRA, management contracts must be approved by the NIGC, and may run only for 5 years (or 7 years in extraordinary circumstances). Additionally, new tribal casinos may be more likely to require approval for gaming on newly acquired lands -- meaning that the opening of the casino is less of a sure thing.

Yet with the recent agreement negotiated between the Seminoles and Governor Crist of Florida to move forward with Class III gaming, there should be more growth in that state – assuming the political and legal wrangling over the compact eventually comes to a halt.

Read more
here.

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1 Comments:

  • hey tht cant be true. the number of gamers in india are increasing at great speed.if tht was nt 2 be true then sites like game2win.com, zapak.com and others wouldnt be a gaming portal, they would be comin up wid sumthng else. btw zapak.com is having gaming championship for CS, Fifa and Flatout in 5 cities - Bangalore, Pune, Chennai, Hyderabad and Chandigarh. With a grand price of Rs.10,000. For futher details log on to on http://blog.zapak.com/2007/11/zapak-gameplex-tournament.html
    such competition is proof tht gaming is gaining momentum in india.

    By Blogger ashi, at Tuesday, November 27, 2007 11:15:00 PM  

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