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Indian gaming revenues hit record $39 billion despite COVID-19
Wednesday, August 10, 2022
Indianz.Com
The tribal casino industry has rebounded dramatically despite the ongoing challenges of the COVID-19 pandemic, with revenues reaching $39 billion, a record in Indian gaming history.
The National Indian Gaming Commission announced the highly-anticipated figures on Wednesday. The data shows increases across all regions of Indian Country, indicating that the unprecedented decline the came after the onset of the coronavirus more than two years ago was temporary.
“Indian gaming is doing very well,” NIGC Chair E. Sequoyah Simermeyer said in a video announcement. “You have rebounded from the industry wide challenges faced during the pandemic.”
“If fiscal year 2021 has shown anything, it is demonstrated that Indian gaming is a resilient industry,” said Simermeyer.
Following the onset of COVID-19 in the spring of 2020, every tribe shut down their gaming facilities as they sought to keep their communities and customers safe. The result was a decline of nearly 20 percent in gross gaming revenue, plummeting the industry to levels not seen in nearly a decade. But Simermeyer and NIGC Vice Chair Jeannie Hovland said tribes quickly adjusted their operations to address health, safety and other challenges that have arisen during the ongoing pandemic. On some reservations, only recently have casinos been able to fully come back online, they pointed out. “When taken together, these challenges, negotiating a clear path to achieving and maintaining revenue growth may seem daunting,” said Hovland. “But it’s clear: Tribes know what is best for their communities,” Hovland noted."Indian gaming is doing very well": Tribal casinos reported a record high of $39 billion in gross gaming revenue in fiscal year 2021, rebounding after #COVID19 closures.
— indianz.com (@indianz) August 10, 2022
Watch the announcement from the National Indian Gaming Commission @NIGCgov here:https://t.co/qks1EapH2B pic.twitter.com/1EaLpfFj9z
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National Indian Gaming Commission Press Release [PDF]
NIGC officials also highlighted the diverse nature of the tribal gaming industry. According to the figures, 55 percent of operations reported less than $25 million at their respective facilities.
On the higher end, only 8 percent of tribes reported revenues greater than $250 million at their respective casinos. Yet these submissions accounted for 52 percent of the gross gaming revenue (GGR) in fiscal year 2021.
“With 43 gaming operations reporting GGR greater than $250 million, accounting for more than 50 percent of total revenues, this year’s revenues underscore the wide diversity — geographically, demographically and financially — in gaming operations across Indian Country,” Hovland said in the video message.
According to the NIGC data, 61 submissions reported revenues in the range of $100 million to $250 million. They accounted for 12 percent of the overall GGR figure.
In the middle range, a total of 124 submissions reported revenues in the ranges of $50 million to $100 million and of $25 million to $50 million. The 282 remaining submissions represented the $25 million and under range.
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