Tribal Gaming Soars to New Heights with Record Revenues
A recent landmark announcement at the Wisconsin Gaming Regulators Association Summer Conference in Green Bay, Wisconsin, saw National Indian Gaming Commission (NIGC) acting chairwoman Sharon M. Avery and vice-chair Jeannie Hovland reveal that the gaming revenue for fiscal year (FY) 2023 has reached an all-time high. These results mark a positive trend for the sector, which can expect enduring success.
All Jurisdictions Performed Admirably
Tribal gaming operations have demonstrated remarkable resilience and adaptability, achieving a gross gaming revenue (GGR) of $41.9 billion, marking the highest figure in Indian gaming history. The NIGC reported that the FY 2023 GGR increased by $1 billion, or approximately 2.4%, over the previous fiscal year’s record of $40.9 billion.
The GGR figure originates from the audited financial statements of 527 gaming operations, representing 245 tribes across 29 states. All eight regions monitored by the NIGC showed an increase in revenue compared to FY 2022, underscoring tribal gaming’s enduring strength and appeal as the sector still retains substantial growth potential.
Tribal governments and licensed operations have continuously adapted to technological advancements and evolving consumer preferences, offering new and innovative gaming experiences that attract and retain customers. This significant growth is a testament to their strength and innovation as they successfully navigated the challenges posed by the pandemic and emerged stronger.
Tribal Operators Will Continue to Excel
Acting chairwoman Sharon M. Avery praised the tribal gaming industry’s resilience and ingenuity, highlighting how a robust regulatory framework and diverse tribal gaming enterprises can generate sustained growth. She remained optimistic regarding the sector’s prospects and was confident that the ever-changing gaming landscape would not deter tribal operators from achieving further growth through safe and sustainable offerings.
This steadfastness will ensure that tribal gaming remains a valuable resource for continued economic sustainability in tribal communities.
Sharon M. Avery, NIGC acting chairwoman
Vice-chair Jeannie Hovland also commended the hard work and dedication of industry stakeholders. She lauded the tribes’ resilience in the face of rising market challenges and increasing competition. Hovland noted that tribal operators remained a substantial boon for their nations, fulfilling one of IGRA’s primary objectives.
I congratulate the industry regulators, operators, and tribal leadership on another successful year.
Jeannie Hovland, NIGC vice-chair
As tribal gaming operations continue to innovate and adapt, they are poised to remain a cornerstone of economic development and sustainability for tribal communities across the United States. Their solid regulatory foundation and commitment to meeting customer needs should help them navigate industry challenges and continue their upward trajectory.
