According to recent research by the American Gaming Association (AGA), the domestic casino gaming market is a powerhouse that generates almost $329 billion in economic activity.
In its first in-depth analysis of the sector's economic benefits to the US since 2018, the AGA found that, last year, casino gaming supported 1.8 million jobs and generated $328.6 billion in economic output. Federal, municipal, and state taxes collected from the gaming industry in 2022 totaled $53 billion, including $13.5 billion from direct gaming excises. Oxford Economics carried out the research.
The gaming industry directly employs more than 700,000 people in the U.S. This includes nearly 600,000 jobs on-site at casinos and corporate offices, more than 23,000 at U.S.-based operations of gaming manufacturers, and 89,000 at businesses providing goods and services to casino patrons during casino trips,” noted the association
One out of every 33 jobs in the US related to travel and leisure is directly related to casinos. According to the AGA, the gaming industry supports more jobs than the aviation, film, and postal services combined. That emphasizes how crucial gaming is to creating jobs in this nation.
The fact that the casino gaming industry creates jobs, which applies to both commercial and tribal gaming entities, further emphasizes the industry's economic significance.
Nearly 332K people worked at commercial casinos last year, bringing in a total of $16.3 billion before tips and benefits. Approximately 256K workers were employed by tribal gaming companies, and their combined pay and benefits totaled $8 billion.
"Around 597,000 jobs on-site at casinos and corporate offices, almost 89,000 jobs at businesses serving casino patrons during casino trips or involved in casino construction and renovations, and more than 23,000 jobs at gaming equipment manufacturers" make up the 709K people who are directly employed by casinos, according to the AGA.
Land-based casinos often employ the greatest numbers of people in the private sector in the jurisdictions in which they operate, and they also generate new revenue streams from sales taxes and income. These are some of the motives driving politicians in certain areas to support the opening of new casinos.
Last year, visitors to US commercial and tribal casinos spent $125.9 billion. Nearly 17% of that tally was derived from nongaming sources, including entertainment, food and beverage, and hotel rooms.
In addition, spending at third-party outlets, such as leased restaurants and retail outlets not already included in casino revenue, sales and lodging taxes represented $4.0 billion, resulting in casino spending of $125.9 billion,” observed the AGA.
Even though it's generally predicted that domestic casinos will see record revenue from patrons this year, high-ranking industry executives are beginning to worry that a recession—albeit a small one—may be approaching. Should the economic downturn materialize and last longer than anticipated, consumer discretionary spending would probably decline, and some operators might be forced to cut staff.
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