US gaming revenue reaches record $66.5bn in 2023

US gaming revenue reaches record $66.5bn in 2023

It was the third consecutive year of growth.

US.- Commercial gaming revenue reached an annual record of $66.5bn in 2023, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. The total surpasses 2022’s $60.5bn by 10 per cent, marking the industry’s third year of growth.

Quarterly revenue was $17.4bn in Q4 2023. December was the highest-grossing month with $6.2bn.

AGA president and CEO Bill Miller said: “From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high. 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.”

Online gaming made up nearly one-quarter (24.7 per cent) of commercial gaming revenue in 2023. Brick-and-mortar casino slots and table games grossed $49.4bn, up 3.3 per cent over 2022, with 19 out of 27 traditional gaming markets seeing record annual revenue.

The sports betting handle was $119.8bn and revenue $10.9bn, up 27.8 and 44.5 per cent respectively. This was fueled by continued maturation across existing markets and several new markets. Igaming revenue grew 22.9 per cent year-over-year to $6.2bn from six states.

In 2023, 12 of the top 20 commercial casino gaming markets reported revenue growth compared to the previous year. The top market, the Las Vegas Strip, saw the strongest gains. New Jersey maintained its spot as the second-highest grossing market, while Chicagoland (third) beat the Baltimore-Washington, D.C. market (fourth). The Mississippi Gulf Coast was fifth.

“Gaming’s success translates directly to the success of the states, cities and towns in which we operate,” continued Miller. “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.”

Miller will make additional remarks on full-year 2023 commercial gaming revenue figures and preview AGA’s priorities for the year ahead in AGA’s annual State of the Industry webinar on February 20 at 11:30 AM ET/8:30 AM PT.

See also: Everi’s Michael Rumbolz elected American Gaming Association chairman

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American Gaming Association