US gaming revenue to reach record-breaking $66.5bn in 2023

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US gaming revenue to reach record-breaking $66.5bn in 2023

In 2023, commercial gaming revenue surged to a historic high of $66.5 billion, as revealed by the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker, marking a notable 10% increase from the previous year’s $60.5 billion and solidifying the industry’s third consecutive year of growth.

Quarterly earnings for Q4 2023 peaked at $17.4 billion, with December emerging as the most lucrative month, raking in $6.2 billion.

AGA President and CEO, Bill Miller, emphasized:

The appetite for gaming among American adults has reached unprecedented levels, spanning from traditional casino ventures to online platforms. Sustaining this upward trajectory necessitates collaborative efforts within the industry to combat illicit operators while fostering responsible gambling practices alongside the legal market’s expansion—a commitment the AGA will continue to champion throughout 2024.

Online gaming notably contributed nearly a quarter (24.7%) to commercial gaming revenue in 2023. Meanwhile, brick-and-mortar establishments featuring casino slots and table games amassed $49.4 billion, marking a 3.3% increase from 2022, with 19 out of 27 traditional gaming markets experiencing record-breaking annual revenue.

The sports betting scene saw a handle of $119.8 billion and revenue of $10.9 billion, reflecting respective increases of 27.8% and 44.5%. This growth was fueled by the maturation of existing markets and the emergence of new ones. Additionally, igaming revenue witnessed a robust 22.9% year-over-year growth, amounting to $6.2 billion across six states.

In 2023, 12 of the top 20 commercial casino gaming markets reported revenue growth compared to the previous year. Notably, the Las Vegas Strip led the charge with significant gains, while New Jersey maintained its position as the second-highest grossing market. Chicagoland surpassed the Baltimore-Washington, D.C. market to claim the third spot, with the Mississippi Gulf Coast ranking fifth.