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Groundbreaking new research reveals impressive magnitude of casino gaming industry in Colorado5 December 2014WASHINGTON, D.C. -- (PRESS RELEASE) -- For the first time ever, a new study conducted by Oxford Economics examines the vast, positive economic impact of the gaming industry on Colorado’s economy. The American Gaming Association released the first-of-its-kind study, which measures the industry’s significant ripple effect on the supply chain, including local businesses. Oxford’s study found that Colorado’s gaming industry: Contributes $1.5 billion to Colorado’s economy; Supports more than 10,000 Colorado jobs and nearly $500 million in income; Generates $340 million in tax revenues to local, state and federal governments. “This study shows that gaming is driving big results in Colorado,” said Geoff Freeman, president and CEO of the American Gaming Association. “However, given increased competition and changing consumer demands, our future success depends on strong partnerships with policymakers that allow us to innovate, reinvest, and create more jobs.” “The research reveals a vast industry that boosts local communities across Colorado by supporting jobs and generating customers for businesses,” says Adam Sacks, director, Oxford Economics. “The industry also supports a wide range of government services in the state, especially given the relatively high tax and regulatory requirements that are in place.” According to a recent poll conducted by respected pollsters Mark Mellman and Glen Bolger, voters across the political spectrum view casino gaming more favorably than ever before. Further, the vast majority recognizes that casino gaming creates jobs, strengthens local businesses and benefits communities. Nationwide, casino gaming in the United States is a $240 billion industry that supports 1.7 million jobs and generates $38 billion in federal, state and local taxes, according to a study by Oxford Economics released last month. |