AGA: Gambling contributes $329bn to US economy

According to the American gambling Association (AGA), the economic impact of tribal and commercial gambling in the United States was $328.6 billion (£267.9 billion/ €309.9 billion) in 2022.

This was described in a new report produced by the AGA and conducted by Oxford Economics.

According to the report, the US gaming industry employs 1.8 million people and generates $104 billion in wages and salaries. The industry directly employs 700,000 people.

As a result, the business generates $52.7 billion in tax income for the federal, state, and municipal governments.

“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, president and CEO of the AGA, told reporters.

Commercial Casino Revenue Leads Total

In accordance to the AGA’s assessment, the gaming sector would generate $150.3 billion in direct activity by 2022. The sum includes $125.9 billion in casino spending and $24.4 billion in miscellaneous spending.

Commercial gaming contributed $79.9 billion in casino expenditure, with tribal gaming accounting for $46.0 billion. The amount includes revenue from new internet channels such as sports betting and igaming.

According to the AGA, gaming activities accounted for 83.1% of casino income, with the remaining 16.9% coming from non-gaming services including food, beverage, hotel, and entertainment.

Other expenditure includes $13.5 billion spent outside of gaming, often known as catalytic spending. It also includes $8.3 billion in payments to suppliers and $2.7 billion in capital expenditures.

Catalytic expenditure refers to all money spent by casino clients outside of their casino excursion. It includes $4.9 billion spent on transportation to the destination and $2.4 billion spent on non-casino meals.

The AGA further stated that the industry will be greater than the aircraft manufacturing or semiconductor sectors in 2022.

Sources: https://igamingexpert.com/, https://www.igbnorthamerica.com/