Jake Banks | 27 Aug 2018

US Gambling IndustryThe American Gaming Association (AGA) has recently published the latest state-by-state report relating to the status of commercial gambling in the United States. The annual report is the most comprehensive of its kind, outlining the figures reported by the land based and online casino industry as well as its economic impact on the 24 states with commercial gambling endeavors.

This time round, the report managed to make known a number of welcome findings, including the fact that during 2017, the industry generated $40.28 billion in revenue income, topping the previous year by 3.4%. No fewer than 20 commercial casinos reported a sustainable increase in income, and this has enabled the industry to contribute to job creation in a major way.

A Contributing Sector

The AGA’s State of the States report outlines the major annual contributions made by the gaming industry, as well as in which sector of the economy. For the year 2017, the focus has been largely on the industry’s role as a creator of employment. It’s easy to see why, when considering that the industry created more than 360,000 new jobs during the reported period.

What’s more, commercial gaming tax catapulted all the way to $9.2 billion, benefiting the country at large. Of the 20 states, it was Maryland that really smashed previous records. The state reported commercial casino income to the tune of $1.6 billion, which represents a year-on-year increase of 34%. Much of the reported increase was thanks to the National Harbor having opened its doors in the state.

Industry Creates Mass Employment

In Oklahoma, two separate casinos had obtained licenses to remain open for 24 hours a day, which largely contributed to the 10% overall increase reported for 2017. Ohio and Massachusetts too, were able to report record revenue figures, at $1.7 billion and $164 million, respectively.

The report by the AGA also provides insightful information concerning the types of gaming offered in the various states, as well as individual performance reports, wages, taxes and employment information.

All in all, the report paints a very positive picture. The gambling industry has, for the most part, seen significant growth, and has in turn been in a position to channel the progress to the citizens of the various states, especially in the way of new employment opportunities.

Sources:

https://www.gamblinginsider.com/news/5787/us-commercial-casino-annual-revenue-tops-40bn-for-the-first-time