The American gaming and gambling industry has long been a booming and lucrative market, attracting millions of players and generating substantial revenue. The American commercial gaming industry saw continued momentum of growth in the year of 2023 following 2022.
According to the most updated American Gaming Association’s Commercial Gaming Revenue Tracker, Casino gambling revenue in the United States grew for the 30th month in a row in August. Gaming revenue increased 4.9% year-on-year in August, continuing the industry’s long-term growth trajectory. The industry’s resilience and long-term entertainment appeal have made it one of the most resilient industries in the world, as evidenced by data from state regulators compiled by the AGA. For the 12th straight month, combined revenue from casino games and sports betting, as well as iGaming, topped $5 billion in August.
Looking at the bigger picture, the commercial gaming revenue is set for a third year of growth record in a row, with industry revenue up 10.4% year-on-year through August at $43,15 billion. On the other hand, the growth in land-based gaming has slowed down to an annualized 1.1% since March, as online gaming continues to grow at a rapid pace.
Land-based gaming revenue, which includes casino slots and table games, as well as retail sports betting grew by 0.8% in August compared to the year-ago period. Online gaming revenue increased 24.6% year-on-year. Traditional casino slot machines (slot machines) and table games (table games) continue to grow at a slower pace than digital offerings. However, they remain by far the largest revenue drivers in the commercial gaming sector. In total, these segments accounted for $4,06 billion in revenue in August, with slot machines contributing $2,95 billion, or 1.0% of total revenue, and table games contributing $822.4 million, or 1.7% of total revenue.
The casino slot machine and table game revenue totaled $33,03 billion in the month of August, with a 3.3% increase from the same month last year. At the state level, 19 of the 26 commercial states that offer casino slot machines or table games in 2022 saw year-over-year revenue growth in those segments through August.
Commercial sports betting revenue is up 60.4% year-over-year (YoY) to $6.14B through August, while handle is up 21.6% YoY to $68.23B, putting it 21.6% ahead of 2022YoY is projected to hit $100B this year, assuming no significant slowdown in growth between now and December.
Throughout the second and third quarters of the year, the American gambling industry experienced a significant surge in revenue. One of the main driving factors behind this growth is the legalization of sports betting in various states. As more states legalize this form of gambling, it has opened up a huge market for both online and brick-and-mortar establishments. The increased participation in sports betting has proven to be highly profitable for the industry, with millions of dollars wagered on major sporting events.
Moreover, the second and third quarters generally coincide with major sporting events, such as the NFL season, NBA playoffs, and the MLB World Series. These events attract a massive number of bettors, translating into significant revenue for the industry. The thrill and excitement associated with sports betting during these high-profile events have proven to be a major revenue driver for the American gambling industry.
The American gambling industry looks set to continue its upward trajectory, providing both entertainment and economic opportunities for players and stakeholders alike.
About Top One Tech
Top One Tech Ltd. is a professional manufacturer specializing in the design, research and development, manufacture and sales services of touch display solutions, touch screens, touch monitors, touch computers, and sheet metal cabinets, cases, accessories for gaming machines, vending machines, and payment terminals, etc. Founded in 2010, we have been providing services and supplying products for device manufacturers, solution providers, developers, and distributors to realize and optimize their product’s touch and display performances.