National Indian Gaming Commission: Gross revenue of $41.9 billion for fiscal year 2023

The National Indian Gaming Commission (NIGC) reported a record $41.9 billion in gross gaming revenue (GGR) for FY 2023. This figure represents a significant increase of 2.4% compared to the previous year, when revenue was US$40.9 billion. The announcement of these impressive results was made at the Wisconsin Gaming Regulators Association's summer conference in Green Bay, Wisconsin.

Gross revenue growth was seen in all eight regions covering tribal gaming operations, according to NIGC. Chairman Sharon M. Avery said these results highlight the importance of a strong regulatory framework and diversity in tribal gaming businesses. "This year's GGR results demonstrate how a strong regulatory framework and diversity of tribal gaming businesses are generating growth in the gaming industry. Tribal gaming operators and regulators have once again proven that their ingenuity and tenacity are catalysts for growth, even in an ever-changing gaming landscape," said Avery.

Gross gambling revenue has shown steady growth in recent years. Fiscal 2022 GGR was $40.9 billion, up 5% from 2021 revenue of $39.0 billion. These numbers come from audited financial statements of 519 gaming operations owned by 244 federally recognized tribes in 29 states. After a significant decline in 2020 due to the COVID-19 pandemic, with revenue falling to $27.8 billion, the breeding industry has seen an impressive recovery.

During his leadership of NIGC, Michael Hoenig played an important role in regulating and developing the industry, serving as the agency's general counsel until January 2023. Hoenig has driven regulatory improvements and successfully responded to new challenges such as the expansion of sports betting and countering cyber threats. His resignation marked a significant change in the commission's leadership.

Given current trends, NIGC is committed to continuing to support the continued growth of the breeding gaming industry. A strong regulatory framework and a commitment to innovation continue to play a key role in the successful development of this sector. Tribal gaming businesses demonstrate that even in the face of challenging economic and social change, they can remain engines of growth and development in the gaming industry.