In a CBS This Morning report, it is revealed that the casino industry is – what one analyst claims – “kind of an arms race”.
Alex Bumazhn, an analyst at Fitch Ratings, says the industry is becoming extremely saturated. Even though casino revenue nationwide is up 48 percent since 2001 to $40 billion nationwide, there is little room to grow.
“Fortunately, most states at this point already have gaming and have a limited amount of licenses to issue,” Bumazhn says. “(so) we are getting to a point where future development is very limited.”