American Gaming Industry Outlook 2023 : Optimistic Trends – The USA represents the top leading country in the world which wins the highest gambling gross revenue every year. It also possesses the world’s largest casinos, especially in Las Vegas, which is well-known as the gambling hub worldwide. The gross revenue of the American Gaming Industry Outlook nearly reached $53 billion in 2021, a significant increase over 2020.
American Gaming Industry Outlook – Commercial Gross Gaming Revenue (GGR) Of The Gambling Industry In The United States (2020-2022)
(Source: https://www.statista.com/statistics/1332999/gross-gaming-revenue-us/)
Continuing its growth momentum, the American Gaming Industry Outlook saw gross gaming revenue reach $60.42 billion in 2022, marking a 13.9% increase. The total revenue consists of traditional casino games, sports betting and iGaming. Traditional casinos provide gambling options like slot games and table games.
American Gaming Industry Outlook – Slot Games
Slots generated the highest portion of revenue among the segments of gross gambling revenue in both 2020 and 2021. Slot machines are mostly found in brick-and-mortar establishments like casinos. Casinos are well-known locations for gambling, but they are not legal in every state of the USA. Gambling is legal under United States federal law, with each state having the authority to regulate or prohibit it based on preference.
Sport Betting
Sports betting is another American people’s favorite gambling activity in the country. Till now, 33 states and Washington D.C. can offer some form of sports betting. Reports indicate that nearly all states are moving towards legalizing sports gambling, including mobile betting on various platforms.
After a record-setting 2022, the American commercial gaming industry continued its strength in early 2023, setting monthly revenue records in January and February. The nationwide gaming industry wins from traditional casino games, sports betting and iGaming reached $5.50 billion in January 2023.
January 2023 GGR Per Gaming Vertical, Change Over January 2022
In February 2023, nationwide gaming industry wins from traditional casino games, sports betting, and iGaming reached $5.12 billion. It represents the highest February revenue number in history and a 14.5 percent year-over-year increase. This also signifies 24 consecutive months of growth and the sixth consecutive month with gaming revenue surpassing $5 billion. In segments, land-based casino revenue from slot machines and table games reached $3.97 billion, while sports betting generated $678.7 million.
February 2023 GGR Per Gaming Vertical, Change Over February 2022
The pandemic greatly impeded China’s vital role in supplying consumers, labor force, and goods for North America and Europe. According to the “China Economic Watch” report by KPMG China in the first quarter of 2023, China’s economy grew by 3.0% in 2022. From the quarter-on-quarter perspective, the economic aggregate in the fourth quarter was the same as that in the third quarter.
Looking back at 2021, repeated epidemic outbreaks, a slow real estate market, and accelerated interest rate hikes by the American Federal Reserve caused global economic fluctuations. The country’s economic growth fell short of the expected target proposed during its two sessions due to several major challenges. The good news is that the country’s economic aggregate has reached a new level despite the dropped economic growth rate. During 2022, China’s GDP reached 121 trillion CNY, further strengthening the advantages of its ultra-large-scale market.
Analysts expect China to swiftly emerge from the pandemic in 2023. Macroeconomic policies will prioritize stable growth, accelerating consumption recovery. Simultaneously, the real estate market will also experience a relief in economic pressure. The global market perspective indicates that the slowdown in the inflation rate has eased the Federal Reserve’s pace of interest rate hikes.
China’s 2023 Economic Growth
Recently, Morgan Stanley, Goldman Sachs, JPMorgan Chase, and numerous other international investment institutions raised their forecasts for China’s 2023 economic growth. Many foreign chambers of commerce in China, including the American Chamber of Commerce, the British Chamber of Commerce, and the German Chamber of Commerce, anticipate that China’s adjustment in epidemic prevention policies will facilitate the resumption of domestic and international personnel exchanges and business travel. This adjustment is expected to restore market optimism, making China a top destination for foreign investment. In 2023, expert analysis suggests that China’s economic and social vitality will further unfold as demand gradually recovers and policy effects accumulate.
As lockdown measures lift, China’s economy is positioned to rebound, bolstering global momentum as movement and economic activity resume. According to the latest forecast, China’s economy will grow by 5.2% this year, compared with 3% growth last year. Analysts expect the Chinese economy to contribute a quarter of global economic growth this year.
China’s economic recovery and activities in 2023 will contribute significantly to the American gaming and related industries. During the pandemic lockdown restrictions, the Chinese factory will expedite on-time delivery, reducing instability and uncertainty.
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