Expert Social Casino Writer
The Gaming industry keeps delivering on the economic front as it solidifies itself as a significant force in the US economy. New research shows it currently accounts for over 300 billion dollars in economic activity, and it keeps growing. With revenue as significant as this, the gaming industry delivers on the job front as it employs several individuals.
Without overemphasizing its contribution, the data shows how much the gaming industry has had on the overall US economy. As of last year, casino gaming generated $328.6 billion in economic output, which keeps growing. This statistics was stated in a new research conducted by the American Gaming Association.
In its research, AGA highlighted that Casino gaming is responsible for supporting up to 1.8 billion jobs in the US and generating over $53 billion in taxes, including federal, local, and state taxes as of 2022.
Although the gaming industry might have gotten a bad rep as being wealth-destructive, this research brings the industry into a new light. One can see how much contribution the gaming industry is making to the economy. It is not only on the income-generating front but also actively recruiting people into job positions in the billions.
To further highlight the gaming industry's important role in the US job market, AGA claims gaming provides more jobs than the US Postal Service (USPS), air transportation, and even Hollywood.
The research further gives a breakdown of the employment opportunities created by the gaming industry, putting several thousands of people in the direct casino workers category. The casino gaming industry is highlighted as one of the major job creators in the US, especially regarding commercial and tribal gaming entities.
The gaming industry employs over 700,000 people in the US, of which over 500,000 are on-site job roles. One in 33 leisure/travel-related jobs is linked to direct casino employment, which can be highly lucrative.
The gaming industry also indirectly creates jobs in professions that offer services that casinos need or are a bit adjacent. Such jobs of businesses serving casinos have a record of almost 90,000 jobs. Also, game equipment manufacturing accounts for 23,000 jobs created, linking to the gaming industry.
One can look at the gaming industry as an entity that generates its revenue from gaming activities. However, several revenues generated are indirectly linked to the gaming industry, much of which are not recorded as income. Some of these include third-party spending in leased restaurants and retail outlets.
As of last year, casino visitors spent $125.9 billion in the US. The record shows that 17% of this revenue was generated from non-gaming activities, including but not limited to food and beverages, hotel accommodation, and entertainment. It shows how vast and widespread the tentacles of the gaming industry are and why it is such a big part of the US economy.
Amid fears of a possible mild recession, casinos are expected to gain more customers in the coming months. However, if the economy eventually succumbs to a recession, this will affect customer spending and reduce revenue generated in the gaming sector. As such, the industry may relieve some individuals of their jobs.
However, with the rate at which the gaming sector is growing, this is not a problem, as gaming CEOs are looking for more opportunities to expand their business. In the long run, one can only expect the industry to create more jobs in the country.
One cannot overemphasize the gaming industry's impact on the overall US economy. Driving over $300 billion in output is one vital way to make that statement. The gaming industry keeps delivering, not only in revenue and income generated but also in terms of job creation in the US. The future looks bright for the industry as more and more jobs get created, and new consumers keep flooding in.
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