GGRAsia – Gaming tech sector US$44bln economic impact 2021: AGEM

Gaming tech sector US$44bln economic impact 2021: AGEM

Apr 06, 2023 Newsdesk Industry Talk, Latest News

A study on behalf of the Association of Gaming Equipment Manufacturers (AGEM) suggests the sector achieved “US$44 billion in economic impact” globally during 2021. It “directly generated approximately US$17 billion in economic output during 2021,” according to the document.

The paper, from the Las Vegas, Nevada-based research firm Applied Analysis LLC in the United States, said the economic impact number was arrived at using “economic modelling techniques to quantify the ripple effect of the industry on the global economy”. That is according to a Tuesday press release from AGEM.

The announcement, citing the study – ‘Impact Analysis: Global Gaming Supplier Industry, 2021′ – added that the sector had a “value added impact” amounting to US$24 billion in 2021, said to be up 16.8 percent in year-on-year terms. The paper suggested direct wages for 68,000 people employed worldwide by the sector amounted to US$8 billion, said AGEM.

Companies doing business in Nevada were said to have generated US$8.3 billion in “direct global economic output”.

The release stated that among AGEM voting-member companies surveyed for the report, a total of 72.2 percent experienced increased revenues in 2021; 55.6 percent indicated the number of employees in their company increased year-on-year; and 61 percent said salaries and wages-paid increased in 2021.

In addition, 82 percent of responding companies reported 75 percent-plus of their employees were covered by employer-sponsored healthcare plans; and 93 percent indicated they made purchases from local vendors in 2021.

Daron Dorsey, AGEM executive director, was cited saying in the press release on the study findings: “We are exporting valuable, legal products to meet high consumer demand in regulated gaming jurisdictions worldwide, with economic impacts and operations that fit well with objectives of key stakeholders in terms of economic expansion and opportunity.”

AGEM is described as a non-profit international trade association representing manufacturers and suppliers of electronic gaming devices, lotteries, systems, table games, online technology, sports betting, key components and support products and services for the gaming industry.

It says it has 150 member companies spread across 23 countries.