US Gambling Generates $329 Billion a year
According to a report that was published on Monday by the American Gaming Association, the economic effect of the sector in 2022 was up 26% when compared to 2017, which was before the COVID-19 epidemic.
Recent research conducted by the main trade group for the casino and gambling business in the United States found that the sector is responsible for over $329 billion worth of annual economic activity.
According to a report published on Monday by the American Gaming Association, the economic effect of the sector in 2022 was up 26% compared to 2017, before the COVID-19 epidemic.
The number of employment supported by commercial and tribal casinos is around the same as it was in 2017, totaling 1.8 million. Of these positions, 700,000 are directly associated with casinos or businesses affiliated to casinos. According to the report, those positions generated a total of $104 billion in earnings throughout the country, which is a 40% increase over 2017.
According to the research, the sector handed over $52.7 billion in taxes to national, state, and municipal governments in 2018, representing a 29% increase compared to 2017.
This report was the first research of this kind to be published by the organisation since 2018, when they produced a report that contained data from 2017.
Since the epidemic first began, Bill Miller, president and chief executive officer of the organisation, has stated that the data demonstrate the casino industry's resilience and continued strength.
“Think back to where we were a few years ago with nearly 1,000 casinos, almost all of them closed,” he said.
“Today, we're seeing record revenue in the industry.”