The results for the fiscal year 2022 have reached $40.9 billion in total gross gaming revenue, which is a 4.9% gain in FY2021. The results were presented by Chairman E. Sequoyah Simermeyer and Vice Chair Jeannie Hovland who pointed out the sustained momentum of the sector and the opportunities for further growth down the road.
NIGC Outlines Results and Growth of GGR
The NIGC cautioned that no rush conclusions should be drawn when comparing regional results, however. The regulator said that there were many factors that could potentially influence annual performance, including the emergence of new gaming operations, renovations, and expansions of existing businesses, as well as temporary or permanent closures, and so on.
At the same time, the record-setting revenue demonstrates tribal gaming operators’ ability to cope with difficult financial circumstances and continue to build and drive value for their respective communities. Simermeyer explained the continued success of these operations:
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 hot646 supported by efficient and effective measures.
Hovland was similarly pleased with the results, arguing that 55% of all tribal gaming facilities reported $25 million or less in gross gaming revenue. However, he noted that the success of Indian gaming often has significant benefits for surrounding communities as well. The revenue generated this way gives gaming operators a significant opportunity to improve the quality of live of individual Native people, Hovland concluded.
All But One Regions Post Stronger Results Year-over-Year
Presently, there are 244 federally recognized tribes and they have gaming operations in 29 states. The Sacramento region led the way in terms of the biggest chunk of gross gaming revenue with $11.9 billion generated there in FY2022 from 78 operations. The second largest was the D.C. region which brought in another $9 billion in gross gaming revenue from 41 operations.
Sacramento was the only region to post a small regional contraction in its results, down by 1.4% whereas all others registered a net gain comparing FY2021 to FY2022. Phoenix, which generated $3.7 billion in FY2022 in gross gaming revenue had the biggest gain, up by 15.7%.
