New AGA Report: The Economic Impact of the Gaming Industry
On Wednesday, the American Gaming Association published a new , the first one since 2014, showing how the U.S. economy has been impacted by the gaming industry. It extensively highlights economic aspects like jobs, economic output, and tax revenue.
According to the study, which was commissioned by the American Gaming Association and carried out by Oxford Economics, the United States’ gaming industry:
- Provides almost 1.8 million jobs, compared to 1.7 million jobs in 2014;
- $40.8 billion in tax revenue to local, state, and federal governments; and
- Contributes $261 billion to the economy, up 9.5 percent since 2014.
Oxford Economics looked at industry info provided from a variety of sources, such as a survey from U.S. casino operators, gaming-sector employment data, tax and expense data, and revenue information from private companies, the federal government, and individual states.
The study showed that the gaming industry supported more jobs than in several other sectors such as the sound recording industry, motion picture industry, and plastics manufacturing.
The tax impact, broken down per household, showed that the tax offset brought in by the gaming industry reduced each household’s tax by $343, which would have otherwise had to have been paid if the gaming industry wasn’t there.
The analysis included casino revenues, gaming manufacturer revenues, and ancillary spending. It did not look at pari-mutuel gaming, lotteries and charitable gaming, and slots and video lottery terminals found in non-casino locations like on cruise ships and in convenience stores and bars.
Statement from Sara Slane
Sara Slane is the senior VP of public affairs for the AGA, made the following comments about this enlightening study:
“Gaming companies across the country are enabling long-lasting careers for their employees and making a huge impact on their communities through innovative partnerships with local non-profits, volunteerism and generation of revenue that supports critical services. The industry’s tax revenue alone provides enough funding to hire 692,000 new teachers. Since our last study in 2014, casino gaming has expanded into new markets, offered innovative new entertainment options and enhanced its position as a key contributor to local, state and federal economies.”
Oxford Economics has a worldwide client base made up of universities, financial institutions, corporations, and government organizations. The company focuses on quantitative analysis and global forecasting and has headquarters in Oxford, with offices all around the globe. Its clients use data provided by Oxford Economics to assess the business, social, and economic impact and to forecast external market trends.
Some of the sectors served by Oxford Economics include banking, real estate, asset management, manufacturing, energy, travel, mining, B2C, chemicals, infrastructure, technology, and government.
American Gaming Association
The , which was founded in 1994, is the trade group that represents the U.S. casino industry. Members of the AGA include both tribal and commercial casino operators, suppliers, and other groups affiliated with the gaming industry. The AGA’s mission is to come out with regulations and policies “consistent with casino gaming’s modern appeal and vast economic contribution.”
The AGA promotes, educates, and lobbies through advocacy and education on behalf of the gaming entertainment industry. It addresses federal regulatory and legislative issues that affect its members and their customers and employees, like regulatory issues, federal taxation, and tourism issues. It also provides to the public, media, and decision makers accurate and timely data on the gaming industry.
All AGA activities are carried out by and directed by a professional team with experience in the gaming industry, based out of Washington, D.C.
Phil Ruffin, the owner of Treasure Island, has bought a casino near downtow...
PokerStars tends to corner the market on new cash game offerings, but 888po...
Poker Legend Thor Hansen Passes Away Thor Hansen, dubbed the “Godfather ...
We all know Twitch.tv is one of (if not the) most popular streaming service...