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National Indian Gaming Commission Announces Record FY2023 Revenue

The National Indian Gaming Commission released its fiscal year 2023 results, showing the highest revenue in history, GGR reached $41.9B.

NIGC Promo Image GGR FY2023
Photo by National Indian Gaming Commission on Facebook
Tebearau Egbe Avatar
3 mins read

The National Indian Gaming Commission (NIGC) has released its fiscal year 2023 results, which show the highest revenue in history.

The gross gaming revenue (GGR) for FY2023 reached $41.9 billion. This is a $1 billion increase, representing a 2.4% rise compared to the previous year’s $40.9 billion.

In an NIGC news statement, Vice Chair of the NIGC Jeannie Hovland said the record-breaking achievement is a result of the resilience and dedication of all parties involved:

“I congratulate the industry regulators, operators, and tribal leadership on another successful year.

“Their hard work in meeting and overcoming the challenges presented by an increasingly competitive market is evidence that tribes are resilient, and their gaming expertise is yielding benefits for their nations as IGRA intended.”

Key takeaways

  • NIGC reported a historic high in GGR for fiscal year 2023, reaching $41.9 billion, which reflects 2.4% growth over NIGC’s FY2022 GGR.
  • The commission highlights technological advancements and adaptive regulatory frameworks as contributing factors to the industry’s growth.
  • Following the US Supreme Court’s ruling on the Seminole Tribe in Florida, which potentially opens doors for other tribes to participate in online gaming, there is anticipation of expanded opportunities in the digital gaming space.

$41.9 billion in GGR generated from 527 gaming operations

Established in 1988 under the Indian Gaming Regulatory Act (IGRA), the National Indian Gaming Commission (NIGC) is a federal agency responsible for regulating and supporting gaming activities on Indian lands to generate revenue for the communities.

The NIGC also reviews the backgrounds of individuals and entities to ensure the suitability of those seeking to manage or invest in Indian gaming.

The NIGC’s GGR was collected from 527 gaming operations including tribal casinos managed by 245 tribes across 29 states. The total of $41.9 billion generated came from eight regions, broken down as follows:

RegionGaming OperationsFY 2023FY 2022Increase
Portland53$4,531,931,711$4,483,512,0961.1%
Sacramento87$11,965,357,091$11,759,106,5621.8%
Phoenix54$3,926,245,150$3,722,950,3585.5%
St. Paul95$5,087,839,643$4,950,589,6312.8%
Rapid City45$425,875,203$406,169,9224.9%
Tulsa74$3,560,275,433$3,489,234,6452.0%
Oklahoma City75$3,216,288,977$3,149,318,9792.1%
D.C44$9,191,534,330$8,976,860,4412.4%
Totals527$41,905,347,538$40,937,742,6342.4%

Gaming executives attribute growth to advanced technology and regulatory framework

At the Wisconsin Gaming Regulators Association Summer Conference in Green Bay, Wisconsin, where the results were announced last week, executives like Sharon M. Avery, serving as the acting chairwoman, and Hovland, said the result is a reflection of the improved operations in the region, driven by improved technology and its adaptation to consumer preference.

As the region navigated its recovery from the impacts of COVID-19, which caused significant declines in FY 2020, operators swiftly responded by embracing recovery strategies such as expansions, facility renovations, and adjustments in regulatory practices.

According to recent NIGC annual reports, tribal gaming operators are maintaining their longstanding commitment to integrity and compliance practices which have defined tribal gaming regulation for more than three decades. They are also innovating with new offerings to meet evolving consumer demands.

“This year’s GGR results demonstrate how a strong regulatory framework and diversity of tribal gaming enterprises generate growth in the gaming industry.

Again, this year, tribal gaming operators and regulators have proven that their ingenuity and tenacity are catalysts for growth, even in the face of an ever-changing gaming landscape. This steadfastness will ensure that tribal gaming remains a valuable resource for continued economic sustainability in tribal communities,” said Avery.

In other related news, following the SCOTUS ruling on the Seminole Tribe in Florida, other tribes might now have doors open for participation in online gaming.

 

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Tebearau Egbe has written about gambling for more than four years. She has a Master's degree in philosophy and possesses a unique ability to dissect complex industry developments, distilling them into insightful narratives for readers.

View all posts by Tebearau Egbe

Tebearau Egbe has written about gambling for more than four years. She has a Master's degree in philosophy and possesses a unique ability to dissect complex industry developments, distilling them into insightful narratives for readers.

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