The National Indian Gaming Commission has released the financial results for the fiscal year of 2020. In a statement the Commission’s chairman, E. Sequoyah Simermeyer, and vice chair, Jeannie Hovland announced that revenue fell by 19.5% in the last year.
Yearly revenue dropped to $27.8bn in 2020, with the Rapid City region facing the steepest decline at 36.6%.
The Commission calculates its total gross gaming revenue by using an aggregate of revenue from 524 independently audited financial statements, of 248 federally recognized tribes across 29 States.
This decline in financial results has been attributed to the detrimental effects of the Covid-19 pandemic.
“This Gross Gaming Revenue decrease was expected; the unknown was just how much of an impact COVID-19 had on Indian gaming. Every year, the annual GGR figure tells a story about Indian gaming’s successes, contributions to Indian communities, and economic impacts. This was highlighted even more during the pandemic,” said chairman Simermeyer.
“Nevertheless, tribes were on the forefront of creating standards, developing new safety protocols, and sharing community resources. I foresee this decrease as only a temporary setback for Indian gaming.”
“Despite the limits and uncertainty of the last year, it is important to focus on the sacrifices of and economic refuge provided by tribes and the community impacts. Tribal gaming has shown resilience and commitment, and continues to develop new roads to economic stability. I look forward to seeing Indian gaming continue to lead the way in efforts to reduce the economic impact of the COVID-19 pandemic,” vice chair Hovland added.
While disappointing, the commission believes that these results also reflect the ability of the Indian Gaming Commission to bounce back from a difficult year.
