The Gaming Industry
Since its inception in 1861 with the establishment of the first modern casino in Monaco, the Gaming Industry has been a thriving business and a driving force in economies around the world. Creating employment, helping governments build infrastructure and provide needed programs and services, and serving as an economic stimulus for local communities, this Industry is here to stay.
The combined revenue of commercial and Indian casinos in the United States was over $59billion this past year (AGA, www.americangaming.org). And although not immune to the economic downtown, the Gaming Industry is thought to be recession-resistant with projections of next year’s total revenue showing an increase from years past.
Every new casino, whether it is land-based or online, brings with it many new employment opportunities for the local population. Commercial casinos in the United States provide direct employment for over 354,000 people and generate an additional 450,000 jobs in related businesses (AGA). The work force is also increasing at a substantial rate. During the past decade, it has increased more than 79 percent, from 198,657 employees in 1990 to 354,921 in 2005, with 5,000 new jobs created between 2004 and 2005 alone (AGA). According to a 1996 economic impact study by Arthur Andersen, Gaming Industry employees earn higher average salaries than their counterparts in the motion picture industry, other amusement and recreation sectors, and the hotel/motel industry. (Economic Impacts of Casino Gaming in the United States, Volume 1: Macro Study, December 1996)
In 1999, the United States government commissioned a report to understand the impact of the Gaming Industry. The report concluded the following: "As it has grown, [gambling] has become more than simply an entertainment past-time: the gambling industry has emerged as an economic mainstay in many communities and plays an increasingly prominent role in state and even regional economies." (National Gambling Impact Study Commission Report Washington, D.C.: GPO, June 1999, 3-1). The Casino Industry already pays one of the highest corporate tax rates in the country, and several states, most notably Illinois, elected to raise that rate even higher in 2002. These contributions, help state and local governments fund road construction and local infrastructure improvements, schools, public safety, housing and health care among other programs, and provide tax relief to local citizens (State of the States, The AGA Survey of Casino Entertainment Washington, D.C.: American Gaming Association, 2003).