Gamblers lost $34 billion at U.S. casinos in 2007

By Mark McSherry

NEW YORK (Reuters) - Gamblers lost $34.1 billion at U.S. commercial casinos in 2007, according to a report by the American Gaming Association (AGA) released on Wednesday.

That is up about 73 percent from the casinos' gross gaming revenue of $19.7 billion 10 years ago and a 5.3 percent increase over 2006.

The AGA said the equivalent of one quarter of the U.S. adult population visited casinos in 2007 and made more visits to casinos than in any previous year. About 54.5 million visitors made 376 million trips to casinos last year, an average of nearly seven trips per visitor, the AGA said.

"The casino entertainment industry has experienced high levels of growth and maturation in recent years," said Frank Fahrenkopf, chief executive of the AGA.

"In looking at the last decade, it is evident that we are not only an economic force on a national level, but that we are major players in the local communities where we provide steady jobs and economic development."

U.S. commercial casinos employed 360,633 people in 2007 and wages -- including salary, tips and benefits -- totaled $13.8 billion, the AGA said.

State and local governments received $5.79 billion in tax revenue from the casino industry in 2007, up 11.3 percent from 2006 and more than double the $2.5 billion of 1998.

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