Commercial results in US gambling soar in April 2023

The American Gaming Association (AGA) has issued its latest update on the commercial gambling industry in the United States, with the organization revealing the latest numbers for April 2023. AGA has revealed a substantial gain in total revenue for the month, with commercial gross gaming revenue hitting $5.41bn, up 7.8% on April 2022’s results.

The organization offered a breakdown of the different segments, with sports betting marking up the highest gain, with 55.4% on April 2022, or a total sports betting gross gaming revenue of $820.4m in April 2023. Slot gross gaming revenue also went up to $2.99bn, a net gain of 1.5%. Another segment of the industry that performed well was iGaming gross gaming revenue with a 21.1% gain for a total of $504.3m.

The only segment that saw a slowdown in the month of April was table games, which inched down by 1% to $775m. AGA also surveyed the results for the period between January through April posting a total gross gaming revenue of $22.06bn, or a 13.8% gain on the same period in 2022. In terms of individual segment performances, the market stood at $11.82bn (6.2% gain) for slots, $3.28bn (3.8% gain) for table games, $3.67bn (69.1% gain) for sports betting, and $1.99bn (22.3% gain) for iGaming.

The latest results are also the 26th consecutive month of annual growth, AGA reported, demonstrating the industry’s ability to weather some tough patches and bounce back. Of course, commercial gambling in the United States has been growing rapidly. There has been a tremendous increase in the number of regulated states that now allow sports gambling, among which are more than 33 jurisdictions in the country.

Another popular segment, iGaming, has also been enjoying some momentum with legislators in Rhode Island considering more seriously if the state should pass online gambling legislation and add iGaming to its already existing sports betting framework. Indeed, AGA remarks that land-based growth is slowing down, and the present results are driven by the country’s decision to open up to online gaming.

The states reporting the biggest gain in terms of total gross gaming revenue are Nevada with $1.15bn, Pennsylvania with $486.4m, and New Jersey with $462.7m. New York is also there with $397.1m. A handful of states also saw a negative annual change with Iowa posting 4.9% results smaller than last year, Maine reporting a 7.1% contraction and Oklahoma reporting a 4.7% decline in its results as well.

Overall, the regulated iGaming market has seen a 21.1% gain to $504.3m in April, with six states presently authorizing this activity, including Connecticut, Delaware, New Jersey, West Virginia, Pennsylvania, and Michigan.

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