HomeGambling IndustryUS posts banner year for gambling operations in 2023

US posts banner year for gambling operations in 2023

3 min. read
United States's national flag flapping in the wind.

The United States has much to celebrate with the country’s commercial gaming revenue setting a new annual record of $66.5bn in 2023, the highest on record, according to the American Gaming Association which tracks the metrics in its Commercial Gaming Revenue Tracker. Last year’s results are a 10% gain on the previous year, when commercial gaming revenue scratched $60.5bn.

All gaming revenue soared during the year, including total GGR, slot GGR, table game GGR, iGaming GGR, and not least sports betting GGR. Sports betting led the way in fact, with a tremendous 44.5% gain to $10.92bn, ahead of the $6.17bn collected from iGaming. Table game GGR, gained an incremental 3.5% increase, to $10.31bn, and land-based slot games remained at the head of the pack with $35.51bn, proving to be the most valuable source of economic impact on the industry.

Commenting on these results, AGA President and CEO Bill Miller welcomed the opportunity to see the American gambling industry continue to do well year after year. He similarly expressed confidence about the future and what good may come out of it.

"Sustaining our momentum will take unified industry efforts around combating pernicious illegal operators and growing responsible gambling efforts in tandem with the growth of the legal market—both of which the AGA is committed to lead on throughout 2024."

He further noted that the success of gambling enterprises is a success for local communities and stakeholders, with states, cities, and towns set to benefit from the increased economic windfall coming out of the industry, and as tracked by the Commercial Gaming Revenue Tracker.

The tracker has been able to calculate how much local governments and states have benefited from last year’s commercial activities, with some $14.4bn contributed in tax money. This is another 9.7% increase in the results in 2022, and the American Gaming Association is hoping to see this trend keep in 2024 as well.

Meanwhile, Michigan and New Jersey were tied neck-and-neck for the top spot in iGaming, with the Great Lakes State edging out the Garden State by just $115,500, for a total of $1.92bn. In terms of sports betting revenue, New York remained the indomitable leader with $1.69bn, followed by New Jersey with $1bn, and Nevada trailing the Top 10 list with only $418.3, declining seven spots from 2022.

All in all, the US gambling industry is in fine fettle, and moving into 2024 on a firm footing. By how much exactly, the AGA will let us know next year.

Image credit: Unsplash.com

21 Feb 2024
3 min. read
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