The US gaming sector is experiencing a period of remarkable prosperity, as indicated by the American Gaming Association’s (AGA) recently published Q1 2023 report. The study reveals that commercial gaming revenue across the nation reached an unprecedented $16.47 billion, representing a substantial 14.6% surge in comparison to the corresponding period in the preceding year. This achievement marks the eighth consecutive quarter of expansion, with March alone generating an impressive $5.9 billion.
Nevada played a pivotal role in driving this growth, amassing $1.32 billion in March, as per data from the Nevada Gaming Control Board. However, this surge in prosperity extended beyond a single state. Among the 35 commercial gaming markets monitored by the AGA, 18 reported new revenue milestones. Online gaming continues to gain momentum, constituting nearly a quarter (24.7%) of the overall revenue, with iGaming alone generating $1.5 billion.
Sports betting also experienced a phenomenal quarter, registering a record $31.1 billion in wagers, partly attributed to the emergence of several new markets. This translated to $2.7 billion in revenue, a staggering 64.2% year-over-year increase. Despite the increasing popularity of online platforms, physical casinos have not lost their allure. Slot machines and table games collectively generated $12.3 billion.
Bill Miller, President and CEO of the AGA, aptly summarized the industry’s triumph, stating, “Following two years of obstacles stemming from the pandemic, the US gaming industry has emerged more robust than ever.”
The United States gaming sector, encompassing physical casinos and digital platforms, is experiencing rapid expansion. Adults clearly view gaming as a leading leisure activity.
A report titled “State of the States” by the American Gaming Association disclosed that commercial gaming revenue reached an unprecedented $60.4 billion in 2022, exceeding the prior year’s $53 billion. This prosperity generated substantial tax income for state and local administrations, with commercial gaming enterprises contributing $13.5 billion after accounting for income and sales taxes.
The President and CEO of the AGA, Bill Miller, highlighted the industry’s dedication to its localities, remarking, “As a major taxpayer nationwide, we understand that our industry’s achievements are inherently tied to the welfare of our communities.” He continued, “In addition to our significant tax payments, our industry is deeply embedded in local areas, fostering economic progress through employment opportunities, backing local charities and non-profits, and establishing a high standard for corporate social accountability.”
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