US commercial gaming is enjoying a flourishing state of health according to the American Gaming Association’s latest edition of its annual report, State of the States 2019: The AGA Survey of the Commercial Casino Industry. Gaming revenue for the US commercial casino industry reached an all-time high of $41.7bn in 2018, up 3.5 per cent from the previous year.
Importantly, that revenue increase across the 465-strong commercial casino sector appears to be sustained, with 2018 marking the fourth consecutive year of growth and at a rate that outpaced the national economic expansion rate last year.
The industry’s performance was also good for state finances, generating $9.7bn in gaming taxes for state and local governments, a number that does not account for billions more in sales, income and other taxes that benefit communities.
Half of the 24 states with commercial casinos, according to the AGA, reported record annual gaming revenue with nearly every state seeing gains in 2018, contributing to the strength of local economies across the country.
“Year after year, the commercial casino industry has reaffirmed its role as an economic powerhouse in the United States,” said Bill Miller, AGA President and CEO. “More people than ever are experiencing the economic and social benefits of gaming in their communities, due in part to the expansion of legal sports betting across the country.”
According to the AGA, the rapid expansion of legalized sports wagering following the Supreme Court decision to overturn the Professional and Amateur Sports Protection Act (PASPA) in May 2018 played a role in the industry’s record year. Total industry wide revenue from sports betting grew to $430.2 in 2018, up from $261.3m in 2017. AGA anticipates this growth to continue as additional states legalize and regulate sports wagering.
“Growth in the commercial gaming sector enables the industry to continue to reinvest in communities, enhance partnerships with small businesses and nonprofits and provide career opportunities for nearly two-million American workers,” Miller added.
AGA’s annual State of the States report details the commercial gaming industry’s financial performance, including analyses of each of the 24 states with commercial gaming operations. The report, developed with Gambling Compliance, also provides a breakdown of the legality of types of gaming and number of casinos by state, summarizes major gaming policy discussions and previews opportunities and challenges for the industry.