The figure from 2018 released by AGA represents an all-time high for commercial casinos in the US.
US.- 2018 was one of the most productive years for the commercial casino industry in the United States. According to information released on Tuesday by the American Gaming Association (AGA), commercial casinos in the US reached an all-time high of US$41.7 billion in 2018.
The report State of the States 2019: The AGA Survey of the Commercial Casino Industry details that the US$41.7 billion figure represents a 3.5% increase from the previous year, AGA explained.
The commercial casino sector in the US features 465 casinos, and it reported 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.
Moreover, the report found that 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.”
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 industrywide 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 legalize 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 added.