The American Gaming Association (AGA) has released figures for the year 2017, showing that the gambling industry contributed $261.4 billion in business sales to the U.S. economy in 2017, a 9.5% increase from 2014.

According to the AGA, which partnered with Oxford Economics in crafting the report, the amount of $261.4 billion made for $40.8 billion in federal, state and local taxes, including $10.7 billion of gambling taxes.

“The $40.8 billion of tax revenues supported by the gaming [industry] represents an injection into public budgets that pays for a range of services including public safety, hospitals and schools. In fact, total tax revenues… generated by the gaming industry are enough to pay for the salaries of approximately 692,000 teachers,” the report read.

Sara Slane, AGA senior vice-president of public affairs, said, “Since our last study in 2014, casino gaming has expanded into new markets, offered innovative new entertainment options and enhanced its position as a key contributor to local, state and federal economies.”