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Study Reveals Casino Industry's $329 Billion Economic Boost in the United States

10 October 2023
3744
2 min.
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Study Reveals Casino Industry's $329 Billion Economic Boost in the United States

Casino Powerhouse

A recent American Gaming Association study unveils the U.S. casino industry's remarkable annual contribution of $329 billion to the national economy, signaling robust growth of 26% since 2017, prior to the pandemic.

This industry powerhouse collectively provides 1.8 million jobs nationwide, with 700,000 directly tied to casinos and affiliated businesses, reflecting numbers from 2017. These jobs have translated into $104 billion in wages, a notable 40% increase since 2017.

In terms of government contributions, the industry funneled $52.7 billion into federal, state, and local treasuries over the past year, marking a substantial 29% increase compared to 2017.

Bill Miller, the CEO of the association, underscores the industry's resilience post-pandemic, rebounding from a time when nearly 1,000 casinos were closed. Today, it enjoys record-breaking revenues, showcasing its enduring strength. The association aims to leverage these findings for advocacy, pushing for government intervention to regulate the marketplace.

Renowned gambling historian David Schwartz highlights the industry's unflagging appeal in the United States, emphasizing its unique ability to stimulate economic activity, even during turbulent economic times.

Jane Bokunewicz, Director of the Lloyd Levenson Institute at Stockton University, emphasizes that casinos contribute beyond gambling revenue. They serve as significant regional employers, providing substantial wages and benefits that boost broader economic growth.

The study provides a comprehensive examination, encompassing various aspects of the industry, including gambling revenue, non-gambling casino spending, investments in new casinos, manufacturer expenses, casino supply chain spending, and patrons' spending outside casinos, such as transportation and non-affiliated restaurants.

In 2022, the industry employed 332,000 in commercial casinos ($16.3B wages), 265,000 in tribal casinos ($8B wages), and created 89,000 jobs in related businesses, plus 23,000 in equipment manufacturing.

The industry's revenue streams have diversified as well, with non-gambling income contributing significantly—nearly 17% of total casino revenue. This category includes income from food and beverage sales, hotel rooms, and various non-gambling services.

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President and CEO of the The American Gaming Association (AGA)
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