The US commercial casino industry recorded its second-largest gross gaming revenues ever in 2012, according to the American Gaming Association.
The AGA’s annual State of the States report revealed that last year the casino industry’s gaming revenues rose 4.8 per cent to $37.34bn – its highest level since the recession that began in 2008.
Casinos have now seen three consecutive years of growth.
“After three years of increasing growth and positive signs in all sectors of the industry, it’s clear that we have weathered the recession,” said Frank Fahrenkopf, president and CEO of the AGA. “Whether we look at jobs, casino visitors served or tax revenues being provided, the bottom line is that there is much to be optimistic about in the commercial casino industry.”
States and local communities benefitted from $8.6bn in gaming tax contributions, while the industry’s 330,000 workers earned $13.2bn in wage, benefits and tips. Much of the growth experienced by the sector was the result of number of states that have expanded their casino offering. The report showed that 15 of the 22 states that had commercial casinos operating in 2011 experienced an increase in gaming revenues last year. Those that were previously underserved markets, where new casinos have opened, saw the most growth.
“At a time when many industries are still feeling the lingering effects of the so-called Great Recession, gaming companies are going strong,” Fahrenkopf said. “We continue to provide much-needed jobs and tax revenue at a time when both are greatly needed.”
The casino equipment sector is also an important contributor to the US economy, the AGA said, noting that its direct output rose 5.7 per cent to $13bn in 2012, compared with the previous year. Manufacturers employed approximately 31,000 workers.
