Summary:
- Casinos generated almost $329bn for the US economy in 2022, up 26% from 2017
- The industry currently supports 1.8m jobs and directly employs 700,000 people
- Sector is on course for another record year in terms of revenue
A new study evaluating the economic impact of the casino gaming industry in the US has found that commercial and tribal casinos throughout the country contribute nearly $329 billion to the US economy.
The industry also supports 1.8 million jobs and drives nearly $53 billion in tax revenue to federal, state, and local governments.
Gaming Industry Contributing More to the US Economy
The study, conducted by Oxford Economics on behalf of the American Gaming Association (AGA), the national trade body representing gaming operators across the US, took into account relevant data from 2022. AGA released a similar report in 2018 which mapped figures from 2017.
According to the latest study published by AGA this week, the US casino industry generated $328.6 billion in economic activity in 2022, a 26% increase from 2017. Casinos are also among the country’s biggest employers, supporting 1.8 million jobs and $104 billion in wages and salaries. The latter figure is up 40% from 2017.
The gaming industry directly employs over 700,000 people in the US, more than the direct jobs provided by the country’s air transportation, postal service, motion picture, and video sectors. Furthermore, 1 in 33 leisure and hospitality jobs throughout the country is generated via direct casino employment.
Compared to 2017 data, the casino sector’s tax contributions went up by 29% to $52.7 billion in 2022, providing crucial funding for public programs and initiatives across the US and supplemental revenue for state general funds.
Commenting on the report, AGA President and CEO Bill Miller said the latest figures are a testament to the industry’s resiliency and continued strength since being heavily impacted by the COVID-19 pandemic in 2020.
US Casinos Set to Achieve Record Revenue in 2023
In terms of revenue, the US casino industry has gone a long way since the pandemic first hit, according to Miller. 2023 is shaping up to be another record year for the sector, with casino operators on track to win more than $60 billion from gamblers by the end of the year.
Moving forward, AGA will continue to lobby legislators on measures that would benefit the industry, such as curbing illegal gambling, and Miller is optimistic the new study will give a significant boost to their campaign.
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