gross gaming revenue

Indian Gaming Revenue Sets New Record of $40.9B in 2022

Published

9 months ago

July 25, 2023

indian-gaming-revenue-sets-new-record-of-$40.9b-in-2022

The National Indian Gaming Commission (NIGC) released Fiscal Year 2022 Gross Gaming Revenue (GGR) numbers totaling $40.9bn, an increase of 4.9% over FY 2021. Chairman E. Sequoyah Simermeyer and Vice Chair Jeannie Hovland made the announcement live from Thackerville, Okla.

Gaming Revenue for FY 2022 is the highest in Indian gaming history. Seven of NIGC’s eight regions showed an increase over FY 2021. The overall FY 2022 GGR increase was $1.9bn, about 5% higher than the historic FY 2021 GGR of $39bn, as operations emerged from the pandemic. It is important to note the year-over-year GGR change by region should not be used as a direct indicator of the local economy in any specific region. Many other factors could have an impact on the GGR at the regional level, such as new gaming operations, expansions or renovations to existing operations, temporary or permanent closures, or changes in a gaming operation’s fiscal year.

This year’s historic revenue reflects the resiliency of many tribal gaming operations, and how tribal gaming continues to rebound and remain strong. Tribal governments and the operations they license continue to explore new and innovative ways to expand and deliver world-class experiences to cultivate sustainable economies.

“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,” said Simermeyer.

Vice Chair Hovland noted this year’s GGR reflects Indian gaming geographic and financial diversity, with 55% of tribal gaming facilities reporting less than $25m in revenues (5% of the total GGR). Indian gaming’s success also often means benefits to surrounding communities and regional economies.

“We have cause to celebrate the opportunity successful Indian gaming operations affords tribes to invest in the future and improve the quality of life for individual Native people, and their families, and their communities,” Hovland said.

The FY 2022 revenues are calculated from the independently audited financial statements of 519 gaming operations owned by 244 federally recognized tribes. Indian gaming operations are located on Indian land in 29 states.

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NIGC Publishes Details of Fiscal Year 2020 Gross Gaming Revenue

Published

3 years ago

August 24, 2021

GamingAmericas.com

Chairman E. Sequoyah Simermeyer and Vice Chair Jeannie Hovland of the National Indian Gaming Commission (NIGC) have announced the fiscal year 2020 (FY2020) gross gaming revenue (GGR) for the Indian gaming industry. FY 2020 revenues totaled $27.8B, a decrease of 19.5% over FY 2019.

The COVID-19 pandemic impacted the FY 2020 GGR results. Unlike previous years, the NIGC administrative regions experienced a FY 2020 decline of more than 13% in GGR. The Rapid City Region experienced the largest decrease of 36.6%.

“This Gross Gaming Revenue decrease was expected; the unknown was just how much of an impact COVID-19 had on Indian gaming. Every year, the annual GGR figure tells a story about Indian gaming’s successes, contributions to Indian communities, and economic impacts. This was highlighted even more during the pandemic. Nevertheless, tribes were on the forefront of creating standards, developing new safety protocols, and sharing community resources. I foresee this decrease as only a temporary setback for Indian gaming,” Chairman Simermeyer said.

The GGR figure is an aggregate of revenue from 524 independently audited financial statements of 248 federally recognized Tribes across 29 States. The GGR for an operation is based on the amount wagered minus winnings returned to players.

“Despite the limits and uncertainty of the last year, it is important to focus on the sacrifices of and economic refuge provided by tribes and the community impacts. Tribal gaming has shown resilience and commitment, and continues to develop new roads to economic stability. I look forward to seeing Indian gaming continue to lead the way in efforts to reduce the economic impact of the COVID-19 pandemic,” Vice Chair Hovland said.