The Innovation Group Study Details
The Innovation Group, a research and advisory firm, conducted the NAAiG study. It states that the industry results in a 16% decline in retail casino revenues. This decrease affects other areas of the retail industry, including job loss, lower tax contributions for public services, and economic downturns.
The study’s projections indicate that as much as $1tn in gambling losses will occur by 2028, straining local economies and public health resources. These concerns are the driving force behind NAAiG’s efforts to stop the expansion of iGaming.
The group is working to bring in policymakers, businesses, and community leaders to stop gambling initiatives from gaining ground. Leading the charge with NAAiG are high-ranking officials from large casinos such as Red Rock Resorts and Churchill Downs.
More Report Estimates
The report states that if online gambling is legalized in states like Illinois and New York, it will lead to an almost 5,000 job loss by 2029. Ohio would lose just over 2,800 positions, followed by Louisiana with 2,600+ and Mississippi with just over 1900.
States would also see dramatic losses, with figures totaling:
- $602 million in Ohio
- $428 million Indiana
- $372 million in Maryland
- $313 million in Colorado
The report also indicates that iGaming causes more social issues. Problem gambling and associated social problems are projected to exceed $100 million annually. The broader affect of the industry would be increased financial distress among gamblers and reduced productivity.
Online gaming proponents are pushing back against the efforts of the NAAiG. The group is using a long-running argument about cannibalization against land-based casinos, which has been disproven by New Jersey and Pennsylvania iGaming services.
There is no double that the online gambling industry will continue to push back against the NAAiG as the group makes a more concerted effort to stop the online industry from growing further.
