The Nevada Gaming Fact Book, which was released last week and is produced every two years, focuses on the state’s tourism sector and covers both the direct and indirect economic impacts of the industry.
According to 2018 report, gaming and tourism accounted for 37.5% of Nevada’s general fund revenue. The sector accounted for US$1.8 billion in fees and taxes collected by Nevada, including gross gaming taxes, live entertainment taxes and room taxes.
Hospitality and leisure companies accounted for 450,100 total jobs statewide, which includes resort and casino jobs, positions associated with tourism and jobs associated with vendors that service Nevada’s primary industry.
Gaming and tourism account for 25.8% of the state’s total employment figure. The jobs cover US$18.8 billion in total wage and salary and payments.
“From hundreds of thousands of jobs with competitive wages and benefits to tens of billions of dollars in capital investments to being the largest contributor of state and local taxes, our industry continues to be the driving force behind Nevada’s economy,” Jan Jones Blackhurst, chairwoman of the Resort Association’s board, said in a statement accompanying the report. She is a senior vice president with Caesars Entertainment.
In addition to the economic figures, the Resort Association’s Fact Book highlighted several aspects of the gaming industry, including the growth of legal sports wagering, the emergence of eSports and visitor trends.
Hotel room tax revenue supports public education initiatives and school construction, transportation projects, local government projects, such as parks, promoting tourism, and is providing US$750 million toward the construction costs for the US$1.8 billion Las Vegas Stadium project.
“Our 2019 report demonstrates the breadth of the gaming and tourism industry’s contributions to Nevada’s way of life,” Jones Blackhurst concluded.
Source: GMB / CDC Gaming Reports
