DENVER - Some $4.3 billion of non-Indian casino projects were actually under development at the start of the month, 36% less than a year earlier, according to an annual survey.
Though additional "likely" or "proposed" projects rose 69%, to $3.9 billion, the total pipeline - including those under development - was down 11%, to $8.2 billion, according to the survey, by Hospitality Real Estate Counselors Inc., a consulting firm.
Development of all those projects would add 1.5 million square feet of casino space to the market, representing potential revenue of $4.9 billion, the firm said.
Of the 16 projects identified as under construction or imminent, 69% included hotel components, totaling 6,700 guest rooms.
