For decades, the US regulated gaming industry rode quietly in the back seat of the US economy, contributing plenty while keeping relatively quiet. That model changed in a major way with the legalization of sports bettingand the state of continual expansion that’s marked by record breaking revenue nearly every month. That boom has turned into a $329 billion annual contribution to the US economy, according to remarks made by American Gaming Association President and CEO Bill Miller at the G2E Conference.
According to Miller, the regulated gaming industry currently employs around 1.8 million jobs across the United States. That translates into nearly $104 billion in salaries and wages that pay out in nearly every state but Utah and Hawaii.
All that growth has translated into plenty of new jobs that make up a significant part of the leisure and hospitality industry. According to the AGA’s research, which is conducted by Oxford Economics, more than 700,000 Americans are currently working in the gaming business. That translates into roughly 1 out of every 33 leisure and hospitality jobs in the country. All told, gaming provides more direct jobs than industries that would seem larger, such as transportation.
Gaming’s continually growing presence in the US also raises significant revenue for government at all levels. Tax revenue from regulated raises $53 billion in tax revenue every year that’s used for everything from building new schools to maintaining public roads.
Miller neatly summed up the current state of gaming to the G2E audience saying, “The U.S. gaming industry delivers long-term growth and impact to communities, generating significant tax revenue, creating strong jobs, supporting local small businesses, and funding critical community priorities.”