A new study by the AGA shows that the U.S. casino sector generated nearly $329 billion in economic impact last year. [Image: Shutterstock.com]
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A new study indicates that the US casino gambling sector generated nearly $329 billion in economic activity last year, an increase of 26% from levels in 2017. The American Gaming Association (AGA) published its findings on Monday regarding both casinos. Tribal and commercial all over the world. Nation. This is the first report of this type from the industrial trade association since the findings were published in 2017.
The sector directly employs about 700,000 people
The sector directly employs about 700,000 people and indirectly 1.1 million others. About $52.7 billion in taxes went to local, state and federal governments in 2022, an increase of 29% from 2017.
AGA CEO and President Bill Miller believes the latest economic impact figures highlight how the industry has shown “continued resilience and strength” since the pandemic. He is confident that the results of the latest study will help convince lawmakers of the impact that favorable gambling laws can have.
Strong rebound after the epidemic
While the COVID-19 pandemic significantly disrupted the U.S. casino sector for a while, it has rebounded strongly. Revenue numbers regularly reach new highs and new casinos appear all over the country.
The current trajectory is for 2023 to be another record-breaking year
The current trajectory is for 2023 to be another record year for US casinos, with the properties on track to surpass the $60 billion gross revenue mark set in 2022. Of last year’s total casino revenue, approximately 17% of it was from During non-gambling sources such as hotel rooms and food and beverage sales.
In addition to employing people directly, casinos have an indirect economic impact by spending heavily on operations — things like laundry services, food, and building maintenance. They also hire local construction companies for additional improvements and expansion work.
Americans accept gambling
Other recently published research from the AGA looked at the attitudes Americans have toward the gaming industry. It shows that more people in the country have engaged in gaming-related entertainment over the past 12 months than ever before.
Young people are embracing legal gambling options, with the average age of people going to casinos falling from 49.6 in 2019 to 42 this year.
About 26% of Americans gamble at land-based casinos, while 20% participate in sports betting. The study showed that 88% of people believe gambling in casinos is acceptable and 71% recognize the positive economic impact this sector provides.
