Tribal Gaming Revenue Sees Strong Growth in Fiscal 2022
LISTEN TO THIS ARTICLE:The National Indian Gaming Commission (NIGC) has published results for fiscal year 2022 that show tribal gaming in the US is continuing to grow.
Fiscal year 2022 saw total gross gaming revenue of $40.9 billion, an increase of 4.9% from the previous year. NIGC Chairman E. Sequoyah Simermeyer and Vice Chair Jeannie Hovland presented the results while highlighting that the land-based casino sector sustained positive momentum and future opportunities for growth.
At the same time, the NIGC warned not to draw any hasty conclusions when comparing results from different regions. They explained that several things could influence annual results, such as the opening of new gaming facilities, renovations, the expansion of existing facilities, the closure of venues, and so on.
However, Simermeyer explained that the results demonstrate tribal operators’ ability to adjust to difficult situations in order to continue to increase value for their communities.
Across Indian country, tribes pursue economic sustainability through gaming by relying on the robust regulatory reputation for which Indian gaming is well known and made better when supported by efficient and effective measures.
Tribal Gaming Benefits Local Communities
Hovland also expressed satisfaction with the results and explained that the success of tribal gaming often brings numerous benefits to the wider community. Therefore, revenue generated through gaming gives operators the chance to improve the quality of life for communities where the facilities are based.
At present, there are gaming operations in 29 states. The Sacramento region generated $11.9 billion in gross gaming revenue in fiscal year 2022 from 78 operations. It was followed by the D.C. region, which generated a further $9 billion from 41 operations.
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