In the Second Quarter, Commercial Casino Revenue in the US Surpasses $16 Billion, Signaling a Potential Record-Breaking Year for the Industry.
The United States commercial casino sector is thriving, with gambling revenue reaching record-breaking numbers.
The American Gaming Association (AGA) shared data on Wednesday showcasing the industry's remarkable growth, as it hit a new high of $16.07 billion in gross gaming revenue (GGR) for the second quarter. This beats the previous record held in the same period last year.
The second quarter of 2023 also ranks as the industry's second-highest revenue-generating quarter, slightly behind the first quarter with its $16.6 billion. The first half of the year has seen GGR reach $32.71 billion, a whopping 12% increase compared to the same period in 2022.
In 2022, the gaming industry took in an astounding $60.4 billion from gamblers. The current year is projected to make it a third consecutive year of record-breaking revenue for the sector.
AGA President and CEO Bill Miller stated, "We're seeing exceptional performance and this new milestone cements our post-pandemic recovery. This growth is a clear sign that the gaming sector's success isn't a fluke, and it will continue to impact our communities positively."
The AGA Commercial Gaming Revenue Tracker monitors the gambling industry's progress in the 34 states and the District of Columbia, where such activities are legal in some capacity. It tracks both brick-and-mortar and online operations. This report excludes lottery revenue and gaming revenue from tribal-owned casinos.
Slots Dominate
Traditional gaming like retail slot machines and table games continue to provide the majority of the GGR in commercial gambling.
According to AGA, slot winnings amounted to $8.89 billion in the three-month period, a 2.2% increase from the same time last year. Table games accounted for $2.46 billion, a 2.1% decline compared to Q2 2022.
Bookmakers had a much better run in Q2 2023 than in 2022. They drew $2.3 billion, marking a 57% increase.
iGaming, which involves interactive slot machines and table games, contributed $1.48 billion. Internet gaming platforms in the six states where this type of gambling is legal saw an impressive 22.5% increase in revenue.
Nevada led the pack with second-quarter GGR of over $3.7 billion. Pennsylvania came in second with $1.42 billion, and New Jersey finished third with $1.39 billion.
Community Boost
When Miller refers to making an impact in communities where casinos operate, he is largely discussing the tax benefits that the industry provides.
The AGA estimates that commercial casinos have paid nearly $7.3 billion in direct gambling taxes to state and local governments in the first six months of 2023. To maintain this growth, Miller stresses the need to combat the illegal market.
"To keep this momentum growing, the AGA will continue recruiting new allies in the fight against the illegal gaming market, strengthening responsible gaming measures, and fostering an environment that encourages our innovative industry to offer incredible entertainment to adults throughout the country," Miller concluded.
Header 1
- Las Vegas
- Atlantic City, New Jersey
- Chicago, Illinois
- Lake Tahoe, Nevada
Header 2
Las Vegas Casinos and Resorts
- The Bellagio
- Caesars Palace
- MGM Grand
- Wynn Las Vegas
- ARIA Resort & Casino
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Source: www.casino.org
