Americans curiosity in playing exhibits no signal of slowing down. Expanded sports activities betting, extra authorized jurisdictions, and the expansion of on-line gaming introduced document business gaming income of $66.5 billion in 2023, in response to the American Gaming Association’s (AGA) “Commercial Gaming Revenue Tracker.”
That whole topped 2022’s earlier document of $60.5 billion by 10 %, and 2023 was the trade’s third-straight document income 12 months.
“From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high,” AGA President and CEO Bill Miller stated. “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.”
Industry Continues To Grow
A take a look at the fourth quarter numbers provides much more of a constructive be aware for the trade, reaching an all-time quarterly income document of $17.4 billion. December was particularly large at $6.2 billion, the very best grossing month in trade historical past.
It’s additionally necessary to notice that these numbers are for the business on line casino trade solely and don’t embody tribal gaming revenues, which aren’t but obtainable.
The AGA notes that business gaming continues to evolve, and on-line gaming (together with cellular sports activities betting) made up practically one-quarter (24.7%) of nationwide business gaming income in 2023, additionally a brand new document excessive. Here’s a take a look at every gaming sector:
- Traditional gaming – Slots and desk video games grossed a document $49.4 billion in 2023, up 3.3% from 2022. On a state stage, 19 of 27 conventional gaming markets noticed document annual income.
- Sports betting – In 2023, sports activities betting achieved new for deal with ($119.8 billion, up 27.8%) and sportsbook income ($10.9 billion, up 44.5%). “Continued maturation across most existing markets” and the addition of latest markets contributed to that, significantly in Massachusetts and Ohio.
- iGaming – Online on line casino income grew 22.9% from 2022 to $6.2 billion within the six states with authorized on-line gaming. Several different states are additionally now contemplating on-line gaming, together with poker, as properly.
A Look At Top Markets
At the state stage, 12 of the highest 20 on line casino gaming markets reported income progress in comparison with the earlier 12 months. The Las Vegas Strip noticed the strongest year-over-year features, though one recent report famous that total Strip earnings fell.
New Jersey once more was the second-highest grossing market with the Chicagoland space shifting into third after flipped positions with Baltimore/Washington, D.C. The Mississippi Gulf Coast rounded out the highest 5.
Additionally, the trade contributed extra to state and native governments than ever in 2023. That included an estimated $14.4 billion in direct gaming income taxes, a rise of 9.7% 12 months over 12 months. The trade additionally pays billions of extra tax {dollars} to states annually within the type of earnings, gross sales, payroll, and varied different company taxes.
“Gaming’s success translates directly to the success of the states, cities and towns in which we operate,” Miller stated. “We are proud to be in 47 U.S. jurisdictions, acting as economic drivers, creating jobs and providing the funding that makes critical public education programs, infrastructure projects, problem gambling resources and more possible.”