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Indian gaming is a very important institution to the native people of
this continent. Gambling is one of the most lucrative industries in the
world and many states Native Americans have exclusive rights to offer
casino style gaming to generate revenue for their tribesmen.
Like any business venture a new tribal casino may not be successful
and may not generate as much money as planed. That is why states have
so much trouble with gambling expansion. If a casino has too much local
competition it may not generate enough revenue to be worth the trouble
of maintaining operations.
The current economic recession has not been particularly nice to
casinos either. Month after month casinos are suffering serious revenue
losses.
However, some casinos hit the right place at the right time. The
Navajo Nation opened the Fire Rock Navajo Casino in New Mexico back in
November of 2008. Since that short time the casino has had to expand
their collection of slot machines to accommodate the lines of people
that bombard the casino daily.
Although the casino was only expected to generate $32 million each
year for the tribe, it is doing three times as well, before the
installation of slot machines. Slot machines are only likely to
seriously increase revenues.
310 workers are employed by the casino and 90 percent of those
workers belong to the Navajo Nation. The Fire Rock has a payroll of $9
million.
New Mexico legalized Indian gaming back in 2004. Casinos were a long
time in coming for New Mexico tribes. Back in the 90s tribal casinos
were voted down twice.
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