Casino News

Tribal Gaming Revenue Reached $40.9 Billion in 2022

Details: Category: Casino News; Created: Sunday, 23 July 2023 06:04

According to the latest NIGC report for fiscal year 2022, tribal gaming revenue reached $40.9 billion. It was an increase of 4.9 percent from the previous year. Also, the NIGC pointed out that the industry has an upward trend as they see growth opportunities over time.

However, the NIGC stressed that hasty generalizations should not be made when comparing regional outcomes. According to bookie pay per head sources, the regulator stated that several variables, such as the introduction of new gaming operations, renovations, and expansions of existing enterprises, temporary or permanent closures, and so on, might affect annual performance.

Meanwhile, the record-breaking earnings show that tribal gambling operators can weather tough economic times and contribute significantly to their local communities.

Tribal Gaming Revenue in 2022

Jeannie Hovland, vice chair of the NIGC, was also happy with the findings. He cited that more than half of the tribal gaming facilities recorded total gaming revenue of $25 million or less. However, he did point out that neighboring areas frequently profit greatly from Indian gaming's success. Hovland concludes that the gaming industry can considerably enhance the quality of life of individual Native people with the cash earned in this way. In addition, tribes can open an online casino when it is legal in the state.

There are now 244 tribes that have federal recognition and run casinos in 29 states. In FY2022, the Sacramento area brought in the most money from gaming, with $11.9 billion from 78 establishments. The Washington, DC area ranked second with $9 billion in total gaming revenue from 41 facilities. Also, most tribal gambling facilities are on the list of preferred casinos.

Comparing FY2021 and FY2022, Sacramento was the only region to report a decline in regional results (-1.4 percent), while all other regions showed a net gain. The most significant increase, 15.7 percent, was seen in Phoenix, which produced $3.7 billion in total gaming revenue in FY2022.

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