Wipfli has published the results of its 25th annual Cost of Doing Business report that shows, after years of pandemic-inspired uncertainty, most Indian gaming casinos returned to a new “normal” in 2022.

Revenues and expenses stabilized compared to the record highs and lows experienced around the COVID-19 pandemic. After 2021’s large double-digit increases of 35 percent, revenue growth slowed to approximately 17 percent on average, in 2022. This was the industry’s third consecutive year of double-digit growth. Tribal casinos have more competition for discretionary dollars today compared to the pandemic era, and inflation and labor shortages continue to drive up costs.

New this year, the Cost of Doing Business report also includes metrics on sports betting, which is now legal in 37 states.