American Gaming Industry Revenue Analysis in 2023
The American gaming and gambling industry has thrived, drawing millions of players and generating significant revenue over time. The American commercial gaming industry saw continued momentum of growth in the year of 2023 following 2022.
As per the latest data from the American Gaming Association’s Commercial Gaming Revenue Tracker, US casino gambling revenue expanded for 30 consecutive months in August. Transitioning to the specifics, gaming revenue increased 4.9% year-on-year in August, maintaining the industry’s long-term growth trajectory. Moreover, data from state regulators compiled by the AGA highlight the industry’s resilience, solidifying its position among the most robust globally. Moreover, for the twelfth consecutive month, revenue from casino games, sports betting, and iGaming surpassed $5 billion in August.
American Gaming Industry – The Commercial Gaming Revenue
Considering the broader perspective, commercial gaming revenue is poised for a third consecutive year of record growth, reaching $43.15 billion. Meanwhile, land-based gaming has seen a slowdown, with an annualized growth of 1.1% since March, contrasting with the rapid online gaming growth.
Land-Based Gaming Revenue
In August, revenue from land-based gaming, covering casino slots, table games, and retail sports betting, increased by 0.8% from the previous year. Furthermore, online gaming revenue surged 24.6% year-on-year. Transitioning to the comparison, conventional casino slot machines and table games persist in their slower growth compared to digital alternatives. Nonetheless, they remain the largest revenue drivers in the commercial gaming sector. Combined, these segments generated $4.06 billion in August, with slot machines contributing $2.95 billion (1.0% of total revenue), and table games $822.4 million (1.7%).
The Casino Slot Machine and Table Game Revenue
In August, revenue from casino slot machines and table games hit $33.03 billion, reflecting a 3.3% increase from the previous year. Moreover, nineteen of the 26 commercial states offering these games saw year-over-year revenue growth through August 2022.
Commercial Sports Betting Revenue
Commercial sports betting revenue surged 60.4% YoY to $6.14B by August, with handle up 21.6% YoY to $68.23B. It’s projected to hit $100B this year, assuming no significant growth slowdown, putting it 21.6% ahead of 2022.
The American Gambling Industry
Throughout the second and third quarters of the year, the American gambling industry experienced a significant surge in revenue. This growth is primarily fueled by the legalization of sports betting in various states. Consequently, with more states legalizing gambling, a vast market emerges for both online and physical casinos, presenting lucrative opportunities. Rising sports betting engagement yields substantial profits for the industry, with millions wagered on key sporting spectacles.
Second and third quarters align with big sports events like NFL, NBA playoffs, and MLB World Series, boosting gambling activity. Consequently, these events attract a massive number of bettors, translating into significant revenue for the industry. High-profile sports events fuel excitement and revenue in US sports betting, driving significant earnings for the American gambling industry.
The US gambling sector poised for growth, offering fun and economic prospects for players and stakeholders in the industry.
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