AGA: U.S. Casino Industry Has $240 Billion ImpactNationwide, Casinos Win $61 Billion From Gamblers In A Year |
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The U.S. casino industry is as juicy as it ever has been, according to a study from the American Gaming Association and Oxford Economics.
Overall, casinos in the United States, which include tribal and commercial properties, win roughly $67 billion from gamblers in a year. That is an all-time high.
Total revenues, which include food, beverage and event ticket sales, reached more than $81 billion annually.
A press release from the AGA gave more detail:
The U.S. gaming industry contributes $240 billion to the U.S. economy, which is equivalent to the total state budgets of New York and Texas combined; supports more than 1.7 million jobs—more than double Washington, D.C.’s total employment—and nearly $74 billion in income; generates $38 billion in tax revenues to local, state and federal governments—enough to pay more than half-a-million teachers’ salaries.
The good news comes despite Atlantic City, once the hotbed for casino gaming in the Northeast, falling apart. Thousands are losing their jobs there as casinos close.
Most say that casinos in nearby states have resulted in the collapse of Atlantic City. Pennsylvania now has a bunch of casinos and is the main culprit. Casino development is currently underway in Massachusetts, New York and Maryland. Delaware recently took up online gambling.
To boil it down: Casino capital has moved to more profitable markets and the results have been big. The industry is still growing, even as some markets cannibalize one another.
Online gambling, which has been touted as the future of the U.S. casino industry, is only currently legal in three states—Delaware, New Jersey and Nevada. More are expected to legalize in the coming years, and that could be an area of immense growth.
The key for the industry as a whole is creating a synergy between the online and brick-and-mortar settings. As the AGA study underscored, casinos depend on a lot of revenue from non-gaming activities. Games on the Internet need to also bring people to the actual casinos.
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