The National Indian Gaming Commission released its US gambling totals for fiscal year 2022. Revenue continues to increase in Florida.
The NIGC said tribal gaming operations brought in $40.9 billion in gross gaming revenue last year, breaking the record set in fiscal year 2021. The Washington, D.C., Region, which includes the Sunshine State, New York, Connecticut, North Carolina, Louisiana, Mississippi and Alabama, was responsible for $9 billion in revenue, 10.8% more than in 2021.
National tribal gaming revenue has only dipped one year, in 2020, when the COVID-19 pandemic shut down in-person gambling for some time. Revenue totals have increased 278% over the past 20 years as tribes have added new brick-and-mortar casinos and introduced sports betting.
“Tribes continue to explore new and innovative ways to expand and deliver world-class in-house and virtual experiences, all under the excellent reputation for integrity and compliance for which Indian gaming is well known,” the report stated.
Tribal revenue in Florida’s region
The D.C. Region reported a $879 million gain last year. Overall there was a $1.9 billion revenue growth over NIGC’s eight regions, a 4.9% increase for FY2022 that ended Sept. 30, 2022.
The NIGC oversees seven tribal casinos in Florida, six run by the Seminole Tribe and one operated by the Miccosukee Tribe. The six Seminole casinos, including two branded with the Hard Rock name, offer Class III gambling outlined in the tribe’s gaming compact with the state. The Miccosukee Casino and Resort can only offer bingo, slots and poker as the tribe is not involved in the compact.
The Seminole Tribe’s gaming establishments generate an estimated $2.5 billion annually, according to the American Gaming Association.
Details of the national report
The report states many factors could impact revenue growth at the regional level, such as new gaming operations, expansions or renovations to existing operations, temporary or permanent closures, regulatory changes or changes in an operation’s fiscal year. National revenue has accelerated dramatically since 2018, when online sports betting started in the US.
The NIGC provides federal oversight to more than 500 tribally owned, operated or licensed gaming establishments in 29 states. The report only details gaming revenues, not expenses or profit margins for tribal operations.