US Gaming Sector A Key Economic ContributorHarry Coulter | 27 Sep 2018
The American Gaming Sector is a prominent contributor towards the American economy. This according to a recent study performed by the American Gaming Association. The study’s findings show that the gaming sector is responsible for nearly 1.8 million jobs across the country, as well as for a massive $260 billion in monetary contributions to the country’s fiscal pockets over the course of each year.
This isn’t the first time that a study of this nature has been performed. Roughly a year ago, a similar study established that the tribal sector contributed almost $97 billion towards the US economy each year, in addition to keeping 635,000 US households afloat in terms of employment.
Major Growth Since 2014
The latest study was conducted with the help of Oxford Economics, a highly prominent global forecast and financial analysis firm. Similar research was conducted back in 2014, with Oxford Economics now confirming that the gaming industry’s overall contribution to the US economy, has grown by an impressive 9.5% since then.
What’s more, the entertainment industry is now responsible for almost 100,000 more jobs that what it was four years ago.
Supporting Public Services
Public Affairs Senior Vice President for the American Gaming Association, Sara Slane, says that the casino industry has no doubt expanded into new markets, since the publication of the 2014 study. Slane also said that the industry has managed to increase its contributions towards state, local, and federal economies. What this translates to is that the casino industry is now officially a major contributor towards the US economy.
Slane praised the local industry, saying that businesses involved in the sector were creating life-long employment for their employees. It was now a matter of creating careers, instead of medium-term work. She also commented on the fact that the industry was constantly partnering up with non-profit organisations all over the country, and making a true impact on the revenue that is used to support critical services.
An astounding and impressive statistic quoted by Slane, is the fact that the sector’s tax revenue alone is sufficient to employ 692,000 new teachers. This alone represents a massive contribution towards public services in the country.