The American Gaming Association (AGA) and Oxford Economics have released a new report, quantifying the economic impact of the US gaming industry.
Key statistics from the report are as follows for 2022:
- $329 billion total economic impact
- 1.8 million jobs
- $52.7 billion in federal, state and local tax revenue
The report further breaks down and analyzes commercial and Native American casinos. Casino revenue totalled $122.0 billion, with 62.3% ($75.9 billion) at commercial venues, and 37.7% ($46.0 billion) at Native American venues.
Of the aforementioned revenue, 83.1% was purely from gaming activities, with the remainder from food and drink, lodging and other entertainment. There was an additional $4.0 billion generated by sales at retail and food outlets leased to external companies but within brick-and-mortar venues. Further, $2.7 billion was spent on casino capital investment.
With regards to employment figures, 597,000 jobs were on casino sites and corporate offices; 89,000 jobs at businesses manning hospitality within casinos, or involved in construction and renovation and 23,000 at gaming equipment manufacturers. Employment in the casino industry accounts for one in 33 of all leisure and hospitality jobs, with total gaming supported employment accounting tor one in 118 non-farm jobs in the country.
The report also touches on “catalytic spending”. Catalytic spending is defined as spending by casino patrons at retailers and businesses outside of casinos. This includes spending on transport, accommodation and meals during a ‘casino trip’ as well as a portion of on-site spending.
Further AGA research shows that 71 percent of adults believe that the casino gaming industry has a positive impact in the American economy.
With over 102 million adults visiting a casino in 2022, and $52.7 million in taxes generated, the gaming sphere is one of the largest tax contributors in the United States and the money provides critical funding for local public services on a state-by-state level.