Commercial casino revenue hits $16.1 billion in Q3, best quarter in U.S. gaming history
The third quarter of 2023 was a historic three months for U.S. commercial casinos, with gross gaming revenue (GGR) climbing to a record $16.17 billion.
The American Gaming Association (AGA) reports that commercial casinos won nearly $16.2 billion from players between July and September. Year-over-year growth of 6.1% marked the eleventh consecutive quarter of annual revenue growth.
The figures include revenue from land-based casino slot machines and table games, sports betting and online gambling. This does not include lottery revenue, or GGR, generated by tribal casinos.
"As brick-and-mortar and online gaming grows, we are providing jobs for millions of Americans and serving communities across the country through increased tax revenue," said AGA President and CEO Bill Miller. "Our continued growth reflects gaming's role as the entertainment choice of choice for millions of American adults."
The AGA is a lobbying group representing business and tribal gaming interests in Washington, D.C.
Sports betting and iGaming drive growth
AGA data shows that the U.S. gambling industry continues to grow at a record pace, driven primarily by the continued expansion of legal sports betting (online and in-person) and iGaming. While retail slot revenue was $8.98 billion, up 1.7% from Q3 2022, and table gaming revenue was $2.64 billion, a 3.8% premium, iGaming and oddsmakers also saw bigger gains.
Online casinos in New Jersey, Pennsylvania, Connecticut, Delaware, West Virginia and Michigan had third-quarter GGR of $1.52 billion. This was a 26% increase over the same three months in 2022.
Sports betting retained $2.15 billion, up nearly 23% year over year.Sports Betting is legal and available in 35 states plus Washington, DC. Regulated sports betting is coming soon to Nebraska, North Carolina and Vermont, bringing the total to 38.
“Americans continue to turn their actions to protect legal, regulated sports betting in record numbers. This continued demand only reinforces the need for federal and state enforcement against illegal offshore operators,” Miller added. "
Another record year
Commercial GGR totaled $48.69 billion through the three quarters of 2023, up 10% from the same nine months in 2022. With only a quarter of sales required to be reported, the U.S. commercial gaming industry is likely to set another annual GGR record in 2023.
In 2022, GGR exceeded the $60 billion mark for the first time.$60.42 billion in revenue comes after commercial gambling interests posted record profits of $45.62 billion in 2021.
While most of the growth came from online gaming and mobile sports betting, traditional gaming also saw growth. Slot machine profits rose 3.8% this year to $26.7 billion, while table games profits rose 2.3% to $7.6 billion.
Those numbers are likely to rise even further in the coming years as new casinos open in Virginia, Nebraska and Illinois — states that previously did not allow legal gambling.
Referring to the record 2023 GGR through September, the AGA said commercial gambling interests generated approximately $10.68 billion in tax revenue for state and local governments.
"Please note that these gambling tax figures only cover certain state and local taxes directly related to gambling revenue and are reported on a monthly or quarterly basis. Annual fees are not included, nor are sports betting excise taxes paid to the federal government. These figures This does not take into account the billions of dollars in additional taxes paid by the industry on income, sales, wages or various corporate taxes,” the AGA clarified.
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Source: www.casino.org
