Survey Tracks Development Cycle for Traditional Casinos

The 2005 edition of the Hospitality Real Estate Counselors (HREC) Casino Development Survey reports a boom in the development of traditional casinos. Construction spending for traditional casinos in 2005 is anticipated to total $4 billion, which would be more than a 300% increase from 2004's $985 million total. The report also illustrates the difference in boom and bust years between traditional and Native American casino developments. For 2005, the survey recorded a meager $412 million showing for Native American casinos, a 79% decrease from 2004. According to the survey, approximately $14.5 billion in traditional and Native American casino projects are under construction or proposed for opening from 2006 to 2009.