The American Gaming Association released its latest economic impact study for the US commercial casino industry last week. The report shows US casinos made a $125 billion economic splash in 2010 and proves an online gaming market would greatly benefit the country.
At a time when gaming proponents are working closely with lawmakers to outline benefits of inter- and intra-state online gambling, the AGA released the most comprehensive analysis of economic activity in the US gaming industry to date.
Beyond the Casino Floor: Economic Impacts of the Commercial Casino Industry is the first gaming research study of its kind in 15 years and shows positive trends since 1990.
The report was commissioned to the Brattle Group of Washington DC. The highly acclaimed specialists in economic, finance and regulatory consultation to international corporations and governments had never before worked for the gaming industry.
Assessing the impact of casinos to both gaming and non-gaming states, the report shows casino gaming accounted for $125 billion, or 1 percent of the country?s $14.5 trillion GDP in 2010. In addition, 566 casinos in 22 states supported 820,000 jobs and directly took $49.7 billion from visitors.
Frank Fahrenkopf, President and CEO of AGA, said, ?There is no doubt the commercial casino industry is a significant and vital part of our nation?s economy. The industry generates and supports economic activity that stretches far beyond the communities that host casinos and into the greater American economy.?
Pointing to positive casino effects beyond the states that host them, Fahrenkopf focused on figures derived from markets outside the nation?s 22 gaming states. According to the report, gaming accounts for an additional $76 billion in spending with suppliers and other businesses and supports a further 470,000 jobs.
The report provides a factual tool for government officials to consider when reviewing online gaming laws in the country. Online gambling will not only act as a rich source of government revenue, it will enable US businesses to flourish and open new jobs direct and in-direct to gaming.
Report research Coleman Bazelon, a principal with the Brattle Group explained the data shows the breath of the gaming industry?s impact to US business and economy.
The US is the key leader in new internet technology, with Silicon Valley at the helm of international innovation in this field. Technology companies and start-ups will be given further opportunities to deliver new products and services to online gambling. Tested ideas could then be applied throughout gaming industry sectors, further using innovation to re-grow the fledging economy.
The research study is an additional tool used by Frank Fahrenkopt and the AGA to refer to when speaking with Congress about online gaming legislation. Although preventative measures have continued to halt the bill this year, the research study is at the ready for lawmakers to review.
More InformationAGA ? Website: www.AmericanGamingAssociation.com
Brattle Group ? Website: www.Brattle.com
Contact reporter Michael Robinson at mrobinson@innovategaming.com
or +44 (0) 208 144 2578. Follow @innovate_gaming on Twitter.
Source: http://www.innovategaming.com/aga-shows-online-gaming-would-strengthen-economy
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