The American Gaming Association (also known as AGA in the USA) has released its latest Commercial Gaming Revenue Tracker report for Q1 2023, with great news for the US commercial gambling industry.
The AGA’s 2023 Q1 insights have revealed that the industry has achieved eight record-breaking quarters in a row, with the latest quarter setting a new record of $16.6 billion. Other insights found in the report include that the industry has experienced 26 months of consecutive growth, with more than $5 billion received for eight months in a row. Additionally, the first quarter of 2023 was an incredible 13.8% ahead of the financial results achieved in 2022.
It was also found that revenue growth was starting to decline after a third month was recorded with lower revenue growth, but the report highlighted how this was probably caused by the fact that there were almost no COVID-related restrictions when compared to the same previous period and that revenue acceleration will most likely continue to decline in the months ahead.
However, returning to the subject of growth on the AGA Commercial Gaming Revenue Tracker, while land-based casinos also experienced some growth, the main increase in revenue is coming from the online gaming sector of the gambling industry. When comparing April 2022 to April 2023, there was a 50.4% increase in online gaming revenue. The report found this was due to the introduction of sports betting in Kansas, Maryland, Massachusetts and Ohio in the past year and the growing popularity of online casino gaming where it is legalized.
That being said, when it comes to total earnings, online slots and other online casino games do not contribute the most to the industry. Traditional slots and casino table games still claim the title as the biggest drivers of revenue in the industry overall, with the report finding how, year-to-date, including April, these games earned the industry a total of $16.38 billion.
The minor slowdown in growth has done little to dampen the spirits of operators in the commercial gaming space, and for good reason, when you look at the phenomenal growth that the sector has had over the last two years.
Commenting on the findings of the report, AGA President and CEO Bill Miller said, “After two full years of successive growth post-COVID, the US 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.”
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