California Increases Gambling Market Share

A state once skeptical of wagering is in the midst of a gambling boom that could double casino revenue in coming years. In time, according to gambling industry officials and economists, California almost surely will pass Nevada as the nation's biggest gambling venue.

What was a trickle became a flood after ballot propositions in 1998 and 2000 successfully pitched Indian gambling as a road toward economic independence for tribes. Now, the state has more than 60,000 slot machines, the most lucrative game for any casino owner, and tribal casinos generate roughly $5 billion to $6 billion annually.

For now, California's gambling industry remains considerably smaller than Nevada's, which has 220,000 slots and generates more than $9 billion in annual revenue.

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