US Casino Revenues Hit $81 Billion In 2013

According to a study released by research firm Oxford Economics Ltd, the US casino industry, including those venues owned by Native American tribes, employed 734,000 people and generated revenues of $81 billion in 2013. However, when its multiplier effect is considered the industry actually employed 1.7 million people and contributed $240 billion to the country’s economy.
Included in that figure is the $38 billion casinos paid in local, state and federal taxes, $14 billion spent by consumers at retail outlets such as restaurants and hotels, $60 billion in payments made to suppliers, and $78 billion injected into the economy through employee spending.
The American Gaming Association (AGA) announced the study’s results on the sidelines of the Global Gaming Expo in Las Vegas this week, with Oxford Economics director Adam Sacks, stating: “The research reveals a vast industry that supports local communities across the country through business linkages and employment generation. Given the relatively high levels of taxes on the casino industry, it supports a wide range of government services as well.”
The announcement comes at a time when the casino industry is trying to highlight its more positive influences, particularly in the USA’s northeast region where Atlantic City’s gambling industry is currently going through a period of unparalleled decline with thousands of workers jobs on the line, and Massachusetts is considering repealing a 2011 law that legalized casinos. As Massachusetts’s four bishops said in a statement, recently:
“The gambling industry threatens local businesses, weakens the moral fabric of society and fundamentally alters communities for decades to come.”
However, the Oxford Economics study sheds an altogether different light on America’s gambling industry, and also blames Atlantic City’s recent hardships on increased competition, warning that the industry needs to be more efficient and innovative to drive growth forward. As AGA president Geoff Freeman, explains:
“We’ve known for a long time that our industry’s contributions have gone underestimated, but these numbers are bigger than even we anticipated. Gaming is driving big results in hundreds of American communities. Our future success depends on strong partnerships with policymakers that allow us to innovate, reinvent, and create more jobs.”