Casinos Result in $12B Boon to NJ Economy
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The American Gaming Association released a new study on October 10, 2023, which showed the annual impact of casino gaming on the United States' economy. Oxford Economics conducted the test, and per their results, New Jersey has seen a nearly $12 billion boon.
Here are the results of the study:
- Retail and NJ online casinos contributed $11.8 billion to the state economy.
- Supporting 51,834 jobs.
- Nearly $2 billion in tax revenue.
“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,” said AGA President and CEO Bill Miller.
The gaming taxes in New Jersey are used to help fund things such as programs for disabled and senior citizens, the public education system, law enforcement, and economic development planning.
Casino Industry Contributes Almost $330 Billion in the Whole US
The casino industry contributes nearly $330 billion throughout the United States, supports 1.8 million jobs, and sees over $52 billion in tax revenue.
As of 2023, the casino industry employs 700,000+ people. Those jobs generated over $104 billion in wages, up 40% from 2017.
New Jersey Business Magazine put that number in perspective, saying, “Gaming provides more direct jobs than the air transportation, postal service or motion picture and video sectors. Direct casino employment accounts for 1 in 33 leisure and hospitality jobs.”
The Public Thinks the Casino Industry Helps the Economy
The study from the AGA also shows that 71% of adults say that the casino industry has a positive impact on the economy.
“Casinos are often the largest employers in a region, with major commitments in terms of wages and benefits,” Jane Bokunewicz, director of the Lloyd Levenson Institute at New Jersey’s Stockton University. “People employed by casinos use those wages and benefits to purchase additional goods and services, generating secondary economic impact.”
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