With 45 states and the District of Columbia allowing casinos, online gaming, and sports betting, gambling has firmly established itself as a growing industry across the United States. The American Gaming Association (AGA), a prominent voice in the US gambling industry, has released a research that details the yearly economic effects of legalized gaming across the country.
This thorough investigation, carried out by Oxford Economics, covered both the US commercial and tribal gaming markets. The newest analysis by the AGA revealed the significant impact of the gambling sector on the US economy, which supports roughly 2 million jobs and generates billions of dollars yearly.
Gambling’s Staggering Economic Contribution
According to a newly published estimate, the combined tribal and commercial gaming industries contribute an astounding $328.7 billion to the US economy. Around 1.8 million employment are supported by this economic titan across the country. The commercial and tribal gaming sector delivers a sizeable $104 billion in earnings and compensation to the US labor market.
The regulated gaming industry contributes significantly to tax revenue generation in addition to helping to create jobs and stimulate the economy. According to the study, this industry brings in an astonishing $52.7 billion in tax income. At the municipal, national, and state levels, these tax revenues are crucial to funding crucial services and initiatives. These include building up the economy and the infrastructure, investing in education, and making additional contributions to state general revenues.
The AGA also published another eye-opening analysis at the same time as the economic impact research. Separate studies show that approximately 49% of American adults played gambling games at some point in the previous year. Furthermore, an astounding 71% of American citizens think that the gambling industry benefits the US economy.
The AGA highlights the direct employment effect of the US commercial and tribal gaming business, noting that this industry directly employs almost 700,000 people. Surprisingly, the gambling business employs more people than a number of other well-known industries, like the postal service, film, video, and aviation. According to current AGA study, “Direct casino employment accounts for 1 in 33 leisure and hospitality jobs.”
The AGA’s CEO and President, Bill Miller, emphasized the sector’s influence by highlighting its role in producing tax revenue, assisting small companies, and fostering long-term community growth. Miller emphasized the wide-ranging and advantageous impacts of the gaming sector on local communities around the country in his speech at G2E 2023.
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