AGA sees US commercial gaming revenue reach all-time quarterly high in Q2
Nationwide commercial gaming revenue totalled $14.8bn in Q2 2022.
US.- The American Gaming Association (AGA) has updated its Commercial Gaming Revenue Tracker, reporting that nationwide commercial gaming revenue totalled $14.8bn in Q2 2022. The total sets a new quarterly record for the industry, beating Q4 2021 by 3.3 per cent.
The report also shows that with $29.16bn generated through the first half of the year, a nearly 18 per cent year-over-year increase, 2022 is on pace to set a new annual record for commercial gaming revenue for the second consecutive year.
AGA president and CEO Bill Miller said: “Q2’s results mark a 16-month period of gains for commercial gaming. With increasingly difficult year-over-year comparisons, our strength through the first half of 2022 reflects sustained consumer demand for legal options as well as gaming’s record popularity.”
The industry’s growth rate slowed down in the second quarter, with the pace of monthly year-over-year gains down from 13.1 per cent in April, to 10.7 per cent in May, and 2.5 per cent in June. This suggests consumer demand is stabilising after the return to normal operations one year ago, the Association said.
See also: AGA releases updated anti-money laundering guide
AGA’s Commercial Gaming Revenue Tracker shows that 22 of the 31 commercial gaming jurisdictions operating during the same period last year experienced revenue increases in Q2 2022. Nine states reported all-time quarterly highs: Arkansas, Iowa, Maryland, Massachusetts, Nevada, New York, Oklahoma, Oregon and Pennsylvania.
Traditional casino gaming continued to drive revenue, with both brick-and-mortar slots and table games seeing record quarterly revenue. While slot machine revenue was up 0.2 per cent year-over-year, revenue from table games jumped 18.2 per cent. In the first six months of the year, traditional casino gaming generated $23.67bn in revenue, up 11.7 per cent on the first half of 2021.
The sports betting sector also saw growth. Consumer demand coupled with six new state market launches over the last year put the vertical up 58.7 per cent from Q2 2021. The $3.04bn in sports betting revenue generated so far in 2022 is a 63.9 per cent year-over-year increase.
Meanwhile, the six operational US igaming markets generated $1.21bn in Q2 2022, narrowly beating the vertical’s previous record set in Q1 2022. With the addition of one market, the $2.42bn in commercial iGaming revenue generated through June is a 43.5 per cent jump over the same period in 2021, the vertical’s highest-grossing year.
“While on pace to set an annual revenue record, we are cognizant of the continued impacts of inflation and labor challenges as well as marketplace concerns of potential recession,” added Miller. “Our members have proven their agility and resilience over the last two years and are well-positioned to face these potential headwinds heading into the second half.”
See also: AGA applauds congressional letter calling for action on illegal sportsbook activity
