US commercial gaming revenue hits record $16.17bn in Q3
It’s the 11th consecutive quarter of growth.
US.- Q3 2023 was the US commercial gaming industry’s best third quarter on record, generating $16.17bn, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. Revenue was up 6.1 per cent year-over-year. It was the 11th quarter of annual revenue growth and the second-highest grossing quarter yet, behind Q1 2023.
Despite indicators of a slowdown in the quarter, the industry is poised for a third straight record year, pacing 9.9 per cent ahead of 2022 through September. Revenue grew year-over-year across all verticals, with land-based casino and igaming generating all-time quarterly records. Combined traditional slot machine and table game revenue reached $12.49bn, up 1.8 percent year-over-year, while igaming grossed $1.52bn, up 26 per cent.
Combined in-person and online sports betting also recorded a strong quarter, with revenue up 22.8 per cent year-over-year to $2.15bn. This growth was mostly driven by Maryland (online), Massachusetts, Nebraska and Ohio – states that were not operational a year ago. The vertical is set for a new record year with Americans wagering $79bn through the first nine months of 2023, a 32.7 per cent increase from last year.
Commercial gaming operators paid an estimated $3.43bn in taxes tied directly to gaming revenue, an increase of 4.7 per cent year-over-year.
AGA president and CEO Bill Miller said: “With growth across land-based and online gaming, we are delivering career opportunities for millions of Americans and strong economic contributions to communities across the country through increased tax revenue. Our sustained momentum reflects gaming as a first-choice entertainment option for millions of American adults.”
“Americans continue to migrate their action to the protections of legal, regulated sportsbooks in record numbers. This sustained demand only reinforces the need for federal and state enforcement against illegal, offshore operators,” added Miller.
