AGA Survey Outlines Gaming Industry’s $328.6 Billion Economic ImpactAdditional Study Also Points To Solid Climate For Gambling Sector |
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Casino gambling is a major boost to the economy. That was the message the American Gaming Association (AGA) delivered this week as part of the group’s report on the industry’s impact on the U.S. economy.
The study notes that the industry accounts for a $328.6 billion impact, which includes 1.8 million jobs and $104 billion in wages and salaries. These figures also equate to $52.7 billion in tax revenue to federal, state, and local governments.
“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,” AGA President and CEO Bill Miller said during remarks at the Global Gaming Expo.
Gambling Is A Major Economic Force
The last few decades have seen major casino expansion around the country, beyond traditional gaming hubs like Las Vegas, Reno, and Atlantic City. That has been a boon to the nation’s economy, according to the AGA study.
The gaming sector has become a major job provider for Americans, directly employing more than 700,000. The survey notes that this is larger than direct jobs in the air transportation, postal service, or motion picture and video industries. In the leisure and hospitality sector, direct casino employment accounts for one in 33 jobs.
Much of the taxes generated in the industry fund local programs and services, education, infrastructure and economic development, and revenue for gaming state general funds. Americans’ knowledge of the industry’s importance is as high as ever according to the study, with a record 71% of adults commenting that the industry has a positive impact on the economy.
Casino Execs’ Opinion Also Gauged
Along with the Economic study, the AGA also released the Gaming Industry Outlook, which tracks industry executives’ opinion on gaming. This showed a mostly positive view on the near future of the industry.
A majority of gaming executives view the current business climate as good (42%) or satisfactory (55%), an overall jump from the first quarter that saw 62% reported good conditions and 35% as satisfactory. On future business conditions, 58% viewed the next three to six months to be about the same.
“The significant expansion and record demand for legal, regulated gaming in the post-pandemic era have allowed our members to consistently invest in our product and people to deliver innovative entertainment options for American adults,” Miller said. “Gaming CEOs remain focused on delivering world class entertainment options against the backdrop of broader economic uncertainty.”
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