US Tribal Gaming Revenue Just Shy of $42 Billion for FY2023

Article by : Erik Gibbs Jul 1, 2024

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The National Indian Gaming Commission (NIGC) has released the gross gaming revenue numbers for the fiscal year 2023, reporting a total revenue of $41.9 billion. This represents an increase of $1 billion or 2.4% from the $40.9 billion reported in fiscal year 2022. Notably, all eight NIGC regions exhibited growth in gaming revenue compared to the previous year.

Acting Chairwoman Sharon Avery and Vice Chair Jeannie Hovland made the announcement during the Wisconsin Gaming Regulators Association Summer Conference in Green Bay. The leaders emphasized tribal gaming’s ongoing viability, particularly its adaptability to technological advancements and evolving consumer preferences.

Sharon Avery underscored the importance of a robust regulatory framework and the diversity within tribal-gaming enterprises as key factors contributing to industry growth. Avery also commended the ingenuity and resilience of tribal-gaming operators and regulators in ensuring economic sustainability within tribal communities.

Similarly, Jeannie Hovland praised industry regulators, operators, and tribal leadership for their ability to overcome challenges in a highly competitive market, highlighting the benefits derived from tribal gaming expertise.

The NIGC’s report compiles gaming revenues from audited financial statements of 527 gaming operations managed by 245 tribes across 29 states. According to NIGC regulations, each tribe is required to submit financial statements for Class II and Class III gaming operations on their lands for each fiscal year.

Breaking down the regional revenue figures, the Sacramento Region, which includes California and northern Nevada with 87 operations, reported $11.8 billion, a 1.8% increase from $11.7 billion. The D.C. Region, covering New York, Florida, North Carolina, Alabama, Mississippi, and Louisiana with 44 operations, saw a revenue of $9.19 billion, up 2.4% from $8.97 billion.

The St. Paul Region, encompassing Minnesota, Wisconsin, Iowa, Michigan, and Indiana with 95 operations, achieved $5.08 billion, a 2.8% rise from $4.95 billion. The Portland Region, including Washington, Oregon, and Idaho with 53 operations, reported $4.5 billion, a 1.1% increase from $4.48 billion.

The Phoenix Region, which covers Arizona, New Mexico, Colorado, and southern Nevada with 54 operations, saw the highest percentage increase, with revenues of $3.92 billion, up 5.5% from $3.72 billion. The Tulsa Region, covering eastern Oklahoma and Kansas with 74 operations, reported $3.56 billion, a 2% increase from $3.48 billion.

The Oklahoma City Region, which includes western Oklahoma and Texas and has 75 operations, saw revenues of $3.21 billion, a 2.1% increase from $3.14 billion. Lastly, the Rapid City Region, which includes North Dakota, South Dakota, Wyoming, and Montana and has 45 operations, reported $425.8 million, up 4.9% from $406.1 million.

Analyzing the distribution of revenue, it was noted that 9% of the operations recorded revenues of $250 million or higher, accounting for 55% of the total revenue. Meanwhile, 11% of operations earned between $100 million and $250 million, making up 24% of the total.

Another 11% of operations earned between $50 million and $100 million, contributing 10% of the total revenue. Additionally, 14% of operations recorded earnings between $25 million and $50 million, comprising 6% of the total. The majority, 55% of operations, earned less than $25 million, collectively contributing 5% of the total revenue.