The US gaming sector is flourishing, according to the American Gaming Association’s (AGA) Q1 2023 report. The report, a component of the AGA’s Commercial Gaming Revenue Tracker, indicates that national commercial gaming revenue hit an unprecedented $16.47 billion, a 14.6% surge compared to the corresponding period last year. This signifies the eighth consecutive quarter of all-time high revenue for the sector.
March alone witnessed a remarkable $5.9 billion in revenue, partly driven by Nevada’s extraordinary $13.2 billion in gaming revenue for the month, as documented by the Nevada Gaming Control Board.
The report, encompassing 35 commercial gaming jurisdictions across the US, emphasized that 18 of these jurisdictions achieved their highest-ever revenue. Internet gaming persists as a substantial growth catalyst, representing 24.7% of overall revenue. iGaming independently generated $1.5 billion.
Sports wagering also attained new milestones, with an unparalleled $31.1 billion wagered as numerous recently authorized markets debuted this year. This yielded $2.7 billion in revenue, an astounding 64.2% year-on-year increase.
Conventional casino offerings remain prevalent, with slot machines and table games collectively producing $12.3 billion in revenue.
AGA President and CEO Bill Miller conveyed his optimism, remarking, “Following two years of pandemic-induced disruptions, the US gaming industry is more robust than ever.”
The American gaming sector is flourishing, with earnings hitting unprecedented levels in every area, from physical casinos to games on mobile devices. Grown-ups undoubtedly view gaming as a premier leisure activity.
This is per the American Gaming Association (AGA)’s study, “State of the States.” The analysis disclosed that U.S. commercial gaming income reached a massive $60.4 billion in 2022, demolishing the prior record of $53 billion established in 2021.
This upswing in income resulted in a substantial contribution to state and municipal funds. Commercial gaming businesses paid $13.5 billion in direct levies in 2022, post-deduction of prizes awarded to players.
Bill Miller, the AGA’s leader and CEO, stressed the industry’s beneficial influence: “As one of the nation’s most heavily taxed sectors, the gaming industry’s prosperity is inherently tied to the welfare of our communities.”
He proceeded to underscore the industry’s multifaceted function: “Beyond our considerable tax payments, our sector is a driver of economic expansion, employment generation, and community investment. We back local philanthropic endeavors, non-governmental entities, and act as a paradigm for corporate citizenship.”
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