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Racetrack-based slot machines, which are called "racinos", were found to generate revenues faster than any other form of gambling activity during the past decade. The California-based Analysis Group reported via Associated Press that the revenue, which came from this gambling segment, was up 48 percent since 1994, while American Indian-run casinos were up 16 percent and commercial casino revenues rose just 5 percent. The study associates the growth of the industry with the relative novelty of racinos. They first appeared in Rhode Island in 1993 and since that time their expansion into the other states met little competition from other forms of gaming. According to the survey, racino revenues grew 8.3 percent between 2002 and 2003, almost six times faster than commercial casino revenues. The Analysis Group study added that both were outpaced by the growth in American Indian gaming in that period.
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