The commercial casino sector—with 465 casinos—logged its fourth consecutive year of gaming revenue growth and outpaced the national economic growth rate in 2018.
The industry generated US$9.7 billion in gaming taxes for state and local governments, a number that does not account for the billions more in sales, income and other taxes that benefit communities. Half of the 24 states with commercial casinos reported record annual gaming revenue with nearly every state seeing gains in 2018, contributing to the strength of local economies across the country.
“Year after year, the commercial casino industry has reaffirmed its role as an economic powerhouse in the United States,” said Bill Miller, president and CEO of the American Gaming Association. “More people than ever are experiencing the economic and social benefits of gaming in their communities, due in part to the expansion of legal sports betting across the country,” Miller added.
The rapid expansion of legalised sports wagering following the Supreme Court decision to overturn the Professional and Amateur Sports Protection Act (PASPA) in May 2018 played a role in the industry’s record year. Total industry wide revenue from sports betting grew to US$430.2 million in 2018, up from US$261.3 million in 2017. AGA anticipates this growth to continue as additional states legalise and regulate sports wagering.
“Growth in the commercial gaming sector enables the industry to continue to reinvest in communities, enhance partnerships with small businesses and nonprofits and provide career opportunities for nearly two-million American workers,” Miller concluded.
See the full AGA report by clicking here.
Source: GMB
