NIGC reports revenue of $41.9 billion for FY 2023, the highest-ever for Indian gaming industry

The National Indian Gaming Commission (NIGC) has released its fiscal year 2023 Gross Gaming Revenue (GGR) report, with numbers totaling $41.9 billion, surpassing the historic FY 2022 GGR of $40.9 billion at an increase of $1 billion or 2.4%.

Acting Chairwoman Sharon M. Avery and Vice Chair Jeannie Hovland made the announcement at the Wisconsin Gaming Regulators Association Summer Conference in Green Bay, Wisconsin.

This year’s revenue reflects the viability of tribal gaming operations, as tribal gaming continues to adapt to technological advances and changes in consumer preferences, the Commission said. All eight NIGC regions demonstrated growth in gaming revenue since the last GGR report. 

Phoenix recorded the highest increase at 5.5%, followed by Rapid City at 4.9% and St. Paul at 2.8%. Meanwhile, DC, Oklahoma, and Tulsa posted increases of 2.4%, 2.1% and 2.0% respectively. Lastly, Sacramento saw an increase of 1.8% while Portland saw revenue up by 1.1%.

The last few years have been marked by revenue growth, the NIGC said, with FY 2020 a major exception to the trend, where the GGR decreased due to the closure of gaming operations for different lengths of time as a result of the COVID-19 pandemic.

The GGR figure provided by NIGC is an aggregate of gaming revenues collected from the audited financial statements of 527 gaming operations, made up of 245 Tribes across 29 states. NIGC requires each tribe to submit financial statements covering all financial activities of each class II and class III gaming operation on the tribe’s Indian lands for each fiscal year.

Avery said: “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." 

Hovland added: “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."