Commercial Gaming Sets New US Quarterly Revenue Record
LISTEN TO THIS ARTICLE:Commercial gaming across the US set a new quarterly revenue record in the first quarter of this year (January to March). A total of $16.6 billion was spent at casinos, sportsbooks, and legal online gambling sites.
The American Gaming Association (AGA) reported the figures on Tuesday, 16 May, and analysts have predicted that records will continue to be broken in the coming quarters.
The AGA’s commercial gaming revenue tracker showed that Q1 revenue was up 15.5% compared to the same period last year. In March, the industry saw its biggest-ever monthly revenue, $5.9 billion. Records have now been broken in eight consecutive quarters.
A total of 18 out of the 35 commercial gaming markets set revenue records in Q1, and only Mississippi had lower quarterly revenue when compared to Q1 2022.
Over the past year, Nevada has enjoyed several record months, and the Nevada Gaming Control Board is due to release revenue numbers for April in the coming two weeks.
After two full years of successive growth post-COVID, the U.S. gaming industry has never been stronger. With records across every gaming vertical — from brick-and-mortar casinos to mobile gaming — American adults continue to choose gaming as one of their top entertainment options.
The land-based casino industry produced quarterly revenue of $12.3 billion, breaking the previous record of $12.26 billion, which was set in Q3 2022. Across the nation, a record $31.11 billion was bet on sports in Q1 2023, which resulted in quarterly revenue of $2.79 billion, up 70.1% compared to last year. The growth was largely the result of new markets opening in Kansas, Massachusetts, and Ohio, while Maryland introduced mobile betting.
Online gambling, which is legal in only six states, saw revenue of $1.48 billion in Q1, an increase of 22.7% year-on-year.
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