Connect with us

Hi, what are you looking for?

Economy

U.S. casino gaming industry’s monumental impact of gaming on economy: New study revealed

71 percent of U.S. adults see the positive economic impact of the casino gaming industry.

STOCK
Getting your Trinity Audio player ready...

While Alabama’s Legislature remains locked in a debate about legalizing limited gaming facilities in the state, a freshly released study demonstrates the vast economic power that gaming can bring to the U.S.

The American Gaming Association (AGA), on Monday unveiled its most recent findings, conducted by the renowned Oxford Economics. The data paints an impressive picture:

A whopping $328.6 billion contribution to the U.S. economy.

A strong support system for 1.8 million jobs, with a combined $104 billion in wages and salaries nationwide.

A substantial generation of $52.7 billion in tax revenue for federal, state, and local entities.

In a keynote speech at G2E 2023, AGA President and CEO Bill Miller stated, “The U.S. 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.”

The numbers further reveal that America’s gaming industry directly employs over 700,000 individuals. To provide context:

Advertisement. Scroll to continue reading.

The gaming industry surpasses sectors like air transportation, postal service, and even the film and video industries in terms of direct employment.

Casino employment directly accounts for 1 in every 33 leisure and hospitality jobs.

Furthermore, the hefty $53 billion in taxes generated by this industry supports numerous local public services. This includes contributions to education, infrastructure, economic development, and supplementing revenue for state general funds.

Another fascinating piece of information is that public perception of the gaming industry seems largely favorable. AGA’s recent studies highlighted that a record 71 percent of U.S. adults believe the casino gaming industry positively impacts the American economy.

As of now, 45 states, along with the District of Columbia, have welcomed commercial and/or tribal gaming markets. These encompass casino gaming, sports betting, and iGaming. AGA’s trackers indicate that the gaming revenue for 2023, until July, has already surpassed the previous year by 11 percent, marking a new record.

The American Gaming Association (AGA), representing the U.S. casino industry, endeavors to cultivate a business landscape where legal, regulated gaming flourishes. The AGA boasts a diverse membership of stakeholders, from casino operators to suppliers. Collectively, they lead a $329 billion industry, supporting 1.8 million jobs nationwide.

As the debate continues in Alabama, these numbers present a compelling case for the positive potential impact of gaming facilities on the state’s economy, with an estimated annual revenue of $1 billion. The state of Alabama already has tribal gaming, but a minority of lawmakers continue to stall efforts to pass legislation. Year after year, the Legislature  has  teased at a bill that would let citizens vote gaming up or down, but every year special interest groups and a small minority of religious conservatives kill efforts to legalize, tax, and regulate gaming in the state.

Advertisement. Scroll to continue reading.

The Alabama Political Reporter is a daily political news site devoted to Alabama politics. We provide accurate, reliable coverage of policy, elections and government.

More from APR

Featured Opinion

Attorney General Steve Marshall issued a cease and desist letter to an organization planning to hold a raffle to raise funds for children with...

Featured Opinion

The CEO of RSA has a proven track record. When he issues warnings and makes suggestions, we should pay attention.

Featured Opinion

The legislature was thrown a myriad of major issues and they dealt with them in quick order.

Featured Opinion

Ivey needs to gather the top leadership from the House and Senate in a room and hammer out a deal they can agree upon.