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Report: $38 Billion In Taxes Paid by Gambling Industry

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Gambling IndustryNationwide the gambling industry paid over $38 billion in local, state and federal taxes during 2013, according to an American Gaming Association report.

This is the first time casino-game makers, some gambling sites online and tribal casinos have been added to the mix by the group for its yearly study of the impact the industry has in the United States.

Of the total $38 billion in tax revenue, $10 billion was directly from gambling, said the report. Social security and worker income taxes as well as property taxes of casinos was the other $28 billion paid out.

The tax number might be conservative said the company performing the study.

The tribal casinos, which are closely held, reveal little if anything about their private revenue, so for the sake of the study, the agreements the casinos have with the states that govern the amount contributed to local government and other data given to state gaming boards was used to calculate the amount they paid.

This report did not account for any of the personal income taxes individual gamblers might have paid for any large winnings.

Oxford Economics was commissioned by the American Gaming Association to study total economic impact the industry has in the U.S.

These numbers come at a time when industry officials and developers continue pushing for casinos in states and cities that do not have them, with leaders in government betting on a windfall in taxes.

The president of the gaming association said the results of the report showed that the bet was paying off.

Geoff Freeman the association’s president is expected to give a speech about the economic impact of the industry at its annual meeting in Las Vegas on Tuesday.

Some sections of the country have yet to be sold on the potential pay out gambling has.

In Massachusetts, voters for example will decide if the nascent gambling industry should be undone or stay as it is.

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