The US casino industry generated economic activity equivalent to one per cent of the US’ $14.5tn GDP in 2010, new research has revealed.

Las Vegas Las Vegas

A new report – Beyond the Casino Floor: Economic Impacts of the Commercial Casino Industry – published by the American Gaming Association found that the US’ 566 casinos supported around $125bn in spending and nearly 820,000 jobs in 2010.

Taking all lines of spending into account, commercial casinos directly generated nearly $50bn during the year. When considering indirect and induced impacts, the industry supported an additional $76bn in spending with suppliers and other businesses and more than 470,000 other jobs.

In 2010, the industry paid nearly $16bn in taxes, with its effective tax rate standing at 32 per cent – higher than the economy-wide total tax burden of 27 per cent.

“There is no doubt the commercial casino industry is a significant and vital part of our nation’s economy,” said Frank Fahrenkopf, president and CEO of the AGA. “The industry generates and supports economic activity that stretches far beyond the communities that host casinos and into the greater American economy.”

The global gaming industry is estimated to currently generate nearly $120bn in revenues and is expected to rise to more than $182bn by 2015. The Asia-Pacific market is predicted to soon overtake the US as the largest regional market in the world.