The American Gaming Association has released its first report in four years detailing the effects of gambling on the U.S. economy, highlighting the truth that the gambling business employs almost two million Americans and pumps $261 billion into the U.S. economy every year.
Oxford Economics, the firm that performed the study, has written that the overall contribution from the gambling industry to the U.S. economy is up 9.5% more than the four-year period since the last study was conducted. Total tax income in the business came in at $40.8 billion as split between federal, state and nearby governments.
Gambling equipment manufacturing was also up 8% since the final report 4 years ago, employing some 17,000 individuals.
Whilst U.S. inflation prices had been up 5% in the final four years, the pace of inflation was outpaced by direct labor earnings from gambling manufacturing, which was up 8.4% to are available in at $1.1 billion.
The study was commissioned from Oxford Economics by the American Gaming Association and analysed information from a number of sources including national casino operators, federal, state and nearby governments to compare with its prior report from 4 years ago.
U.S. gaming places reported spending of $109 billion, with $89.four coming directly from casinos, $13.three billion from ancillary spending and $6.3 billion from gaming equipment manufactures.
Total casino spending was also broken down into $55.7 billion from commercial casino venues and $33.7 billion from Native American casinos.
The total spending showed that 82% of income came from spending on gamming, with 18% of total spending coming from non-gaming spending including spending on casino restaurants and retail outlets.
Total employment within the business came in at 727,000, with wages including suggestions and advantages coming in at $33.3 billion. 559,000 from the jobs were straight related to casino operations including gaming floors and back workplace workers, 17,000 individuals had been employed in factories and sales outlets, and 150,000 jobs had been produced in businesses offering casino patrons goods and solutions.
Commercial casinos offered some 361,000 jobs paying out $17.4 billion in wages, with Native American casinos employing 198,000 individuals and paying out $9.1 billion in wages.
By comparison the gaming industry within the U.S. employed more people than the plastics manufacturing industry and the motion image and sound recording industry. The total quantity of individuals employed in the business was more than the total number of individuals employed in Washington D.C. as well as sufficient to fill the Dallas Cowboys football stadium for each house game in a season.
Sara Slane, senior vice-president of public affairs at the American Gaming Association, stated: “Gaming companies across the US are enabling long-lasting careers for their employees and making a huge influence on their communities via innovative partnerships with local non-profits, volunteerism and the generation of income that supports crucial services.”