The domestic casino gaming industry, a behemoth in economic terms, stimulates a staggering $329 billion in economic activity, revealed a recent study by the American Gaming Association (AGA). This influential sector underpins 1.8 million jobs and generates $13.5 billion through direct gaming excises. Cumulatively, state, local and federal taxes from the industry amounted to $53 billion in 2022, throwing light on its pivotal role in the financial ecosystem.
In a comprehensive examination since 2018 of its contributions to the nation’s economy, the AGA inferred that the industry’s direct employment encircles more than 700,000 people across the United States. Among these are nearly 600,000 jobs at casinos and corporate offices, over 23,000 at US-based operations of gaming manufacturers, and about 89,000 positions at businesses providing goods and services to casino visitors.
This means one in every 33 jobs in the US travel and leisure sector can be attributed to the casino industry. The AGA highlights that gaming employment goes beyond air transportation, Hollywood, and the US Postal Service, underlining the industry’s pivotal role as a job-creator.
Emphasizing its crucial position in the economy further, the casino gaming industry emerged as a significant job creator for both commercial and tribal gaming entities. Commercial casinos provided employment for nearly 332,000 workers with a combined earning of $16.3 billion, inclusive of benefits and tips last year. Simultaneously, tribal gaming units employed approximately 256,000 staff earning an aggregate of $8 billion.
The 709,000 people directly contributing to the industry comprise of 597,000 jobs at casinos and offices, nearly 89,000 jobs at businesses catering or related to casino patrons, and over 23,000 jobs at gaming equipment manufacturers. In regions where they are based, land-based casinos stand as the largest private-sector employers, contributing to new revenue and sales tax collections. Consequently, some politicians express enthusiasm for more gaming venues in their jurisdictions.
As per the visitation data, US commercial and tribal casinos witnessed a expenditure of $125.9 billion, of which almost 17% came from non-gaming sources like entertainment, food, beverage, and hotel rooms. Apart from casino revenue, spending at third-party outlets, such as restaurants and retail outlets, represented an additional $4 billion.
However, industry experts predict a mixed forecast. While a record customer win is on the cards for domestic casinos, there lurks a considerable worry among top-ranking executives concerning a possible imminent recession. Should this occur and prove to be more severe and extended than anticipated, it could potentially impact consumer discretionary spending and force some operators to downsize.
With the casino industry showing such significant economic contributions and influence, it could be tempting for those unfamiliar with land-based gambling to explore this world. For those who prefer the comfort of their homes or are simply curious to dip their toes into the virtual world of gambling, we recommend the online casinos listed on our website West Island Blog. These platforms offer an array of games and experiences catering to both seasoned enthusiasts and novices alike. Together, we can continue to support an industry that plays such a pivotal role in our economy.
