Currently, 45 US states along with the District of Columbia have established some form of gambling activity, which can include casino gambling, iGaming and sports betting. A new study released by the US gambling industry association, the American Gaming Association (AGA), reveals what is the annual economic impact of legalized gambling across the country.
The new research was conducted by Oxford economics and probed the US commercial and tribal gambling sector. AGA’s new study uncovered that the gambling sector has a profound impact on the US economy, supporting nearly 2 million jobs and contributing billions on an annual basis.
The recently released report reveals that the tribal and commercial gambling sector contributes $328.7 billion to the US economy. Overall, the sector supports some 1.8 million jobs. The commercial and tribal gaming industry contributes some $104 billion in the form of salaries and wages across the US.
Besides supporting jobs and the economy, the regulated gambling sector raises tax revenue. According to the new research, some $52.7 billion is generated in tax revenue by the tribal and commercial gambling sector. This tax revenue provides vital funding for local, federal and state governments, supporting a wide range of public services and programs. Such include economic and infrastructure development, education and supplemental funding for state general funds.
The research into the impact of the gambling sector coincided with the release of another study by the AGA. Citing separate research, the Association revealed that nearly half of the American adults, 49%, engaged in some form of gambling activity over the past year. In addition to that, some 71% of American adults agreed that the gambling sector has a positive impact on the US economy.
700K People Are Directly Employed by the Gaming Sector
Focusing once again on the impact of the US commercial and tribal gaming industry, the AGA explained that some 700,000 people are directly employed by the gaming sector. In comparison to other industries, the gambling sector offers more jobs than the postal service, motion picture and video, as well as air transportation sectors. “Direct casino employment accounts for 1 in 33 leisure and hospitality jobs,” reveals AGA’s recent research.
“The US 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.“
Bill Miller, CEO and president of AGA
Bill Miller, AGA’s CEO and president, addressed the impact of the gaming sector at G2E 2023. He explained that the gambling sector generates tax revenue, while at the same time supporting local communities and businesses. Finally, Miller highlighted the long-term impact of the gaming sector on communities.