Casinos were the main driver of this growth with revenues of USD 177m.
Puerto Rico.- The gaming industry in Puerto Rico continues to grow steadily and uninterruptedly, which is reflected in the industry's revenue figures, which increase year by year. According to the latest data released, the sector raised USD 186m during 2023, setting a new record.
According to the acting director of the Puerto Rico Gaming Commission, Juan Santaella, the sector that made the largest contribution were the casinos, generating USD 177m of that total. This was followed by the horse racing sector with USD 8.7m and sports betting generated USD 505,000.
Of that total, USD 77m will be allocated to the University of Puerto Rico (UPR). The rest will be partly allocated to the general fund and partly to development and investment for promoting Puerto Rico in the tourism sector.
“Investment continues to bring in tourists because there is a local boom in casinos due to the gaming industry and because they have also become entertainment centers, where they not only have machines, but also artistic events and other types of activities that the general managers have managed to implement. It is also important that it is an industry that benefits from tourists who come to spend their money and enjoy Puerto Rico,” said Santaella.
Furthermore, the former acting director of the Gaming Commission Jaime Rivera Emmanuelli mentioned that the horse racing industry also contributes to the general fund through what comes from the "cascades" of horse races, as well as from sports betting operators depending on whether the contribution was made online or in person, and that there is also an economic contribution from the regulatory body.
“Regulation is covered by the same operation of the industry. The commission extracts the necessary resources to be able to supervise. However, gambling is an activity that the government has a great interest in regulating because it could have a consequence on the mental health of the population and the fact that the government does not regulate it, then illegal gambling grows and is invited to take possession over this activity. The contribution of the Gaming Commission and the lottery offices is extremely essential not only economically, but also in helping to regulate and maintain that gambling is an additional entertainment activity that is safe for the bettor who attends,” stated Rivera Emmanuelli.
See also: The offering of sports betting in Puerto Rico continues to grow: Sportium began its operations
