The US gaming industry has given the US economy an annual boost of around $329bn, according to new research from the American Gaming Association.
Research carried out by Oxford Economics has revealed that the combined commercial and tribal gaming industries have created $328.6bn in 2022.
This is calculated from the direct impact from casino and gaming operators plus the impact of their supply chains plus consumer spending in gaming venues.
Meanwhile, the industry provides 1.8 million jobs across the country whether that is in frontline casino jobs or in commercial and corporate office jobs. The total wages and salaries contribution of the industry eclipses $104bn annually.
Oxford Economics and the AGA also revealed that $53bn of federal, state and local taxes per year is spent on “critical funding for local public programs and services, including education, infrastructure and economic development”.
Bill Miller, President and CEO of the AGA, commented: “The US gaming industry delivers long-term growth and impact to communities, generating significant tax revenue, creating strong jobs, supporting local small businesses, and funding critical community priorities.”
Providing further insight into the economic importance of the gaming industry in the US economy, the AGA revealed that the 700,000 direct employees that the gaming industry has eclipse that of the air transportation, postal service, and motion picture and video industries.
Furthermore, direct casino employment accounts for 1 in 33 leisure and hospitality jobs within the entire US economy.
The breakdown of the employment figures shows that 597,000 jobs were from on-site at casinos and corporate offices.
Commercial casinos employed almost 332,000 employees, paying out $16.3bn in wages and benefits. Meanwhile, Native American casinos had 265,000 employees, paying $8bn in wages and benefits.
The economic activity was generated from $150.3bn in industry business sales, comprising $125.9bn of spend at land-based and online casinos and sportsbooks, plus $16.1bn of catalytic spending.
There was $178bn in supply chain and consumer spending throughout the year, which helped to make up the $329bn headline number.
Commercial casinos paid out $35.2bn in taxes during 2022, which is inclusive of the impact of catalytic spending and capital investment. Casino operators and sports betting and igaming platforms paid $13.5bn in taxes throughout the year.
