A recent study by the American Gaming Association reveals that the casino gambling industry in the United States is a significant driver of economic activity, generating nearly $329 billion annually. This figure represents a remarkable 26% increase from 2017, the year before the COVID-19 pandemic impacted the industry.
Commercial and tribal casinos combined support a substantial 1.8 million jobs, with 700,000 of these jobs located within the casinos themselves or in related businesses. This employment figure remains consistent with 2017 statistics. The study also highlights that these jobs collectively generated $104 billion in wages nationwide, reflecting a 40% increase since 2017.
In terms of taxes, the casino industry contributed $52.7 billion to federal, state, and local governments in the past year, indicating a 29% increase since 2017.
This comprehensive report is the first of its kind from the American Gaming Association since 2018, where it presented data from 2017. Bill Miller, the president and CEO of the association, emphasized that these numbers underscore the resilience and continued strength of the casino industry following the challenges posed by the pandemic.
Miller noted, "Think back to where we were a few years ago with nearly 1,000 casinos, almost all of them closed. Today, we're seeing record revenue in the industry." The association intends to leverage the survey's findings to advocate for industry goals, including government regulation of unlicensed gambling operations.
The US casino industry is experiencing a historic year, with record-breaking revenue from gamblers. It is on track to surpass the $60 billion it won from gamblers in the previous year, reflecting the enduring popularity of casino gambling in the United States.
According to David Schwartz, a gambling historian at the University of Nevada Las Vegas, "Despite some economic headwinds, casinos remain powerful drivers of economic activity."
Jane Bokunewicz, director of the Lloyd Levenson Institute at New Jersey's Stockton University, emphasized that the money won by casinos is only a part of their overall contribution to the nation's economy. She stated, "Casinos are often the largest employers in a region, with major commitments in terms of wages and benefits."
Bokunewicz further explained that casino employees use their wages and benefits to purchase goods and services, generating secondary economic impacts. Casinos also have substantial operating costs, including expenses related to food, linen, amenities, and maintenance, which contribute to the local economy.
The study examined various aspects, including money spent by gamblers, non-gambling casino businesses, capital investment, supply chain spending, and casino workers' expenditures on non-gambling items. It also considered catalytic spending by casino patrons outside casinos, such as transportation and expenses at non-casino restaurants.
In terms of employment, the commercial casinos provided jobs for nearly 332,000 workers who earned $16.3 billion in wages and benefits, while tribal casinos employed nearly 265,000 workers who earned $8 billion. Additionally, there were over 89,000 jobs in businesses serving casino patrons and more than 23,000 jobs in gambling equipment manufacturing.
Non-gambling revenue, including income from food and beverage sales, hotel rooms, and other items, accounted for nearly 17% of casino revenue in the past year. The casino industry's multifaceted contributions underscore its significance in driving economic growth across the United States.
This is truly remarkable. It's inspiring to see how the industry has bounced back post-pandemic, showcasing its vital role in the U.S. economy. Cheers to the American Gaming Association for shedding light on this positive trajectory, highlighting the enduring significance of casinos in driving economic growth. May the industry continue to thrive and contribute to the nation's prosperity! 🎉🌟
Thank you for sharing this insightful information about the American casino gambling industry. It's fascinating to see the significant impact it has on the economy, especially in terms of job creation, wages, and contributions to government revenue. Looking forward to more updates on its progress and contributions to economic growth.💓
In my view, the study underscores the resilience of the casino industry amid economic challenges. The record-breaking revenue and substantial contributions to job creation and tax revenue paint a positive picture.
the study acknowledges the flexibilities the industry adopted after the COVID-19 disruptions.The fact that Bill Miller focused his emphasis on leveraging these findings towards regulatory goals points out a forward-looking strategy adopted by him.Hence, it no longer surprises anyone that even while breaking the record for highest casino revenues, such growth remains a testimony of resiliency rather than an argument for any advocacy initiatives within the industry.
I'm truly impressed by the American Gaming Association's study, showcasing the remarkable growth of the casino industry despite the challenges of the pandemic. It's clear that this sector plays a vital role in the U.S. economy.