Reports have shown that commercial casinos in the US generated more than $60 billion from gamblers last year, which turned out to be the best year in the history of the local gambling sector.
According to figures released by the American Gaming Association on February 16th, in-person gambling remains crucial to the industry, accounting for over 80% of the sector’s revenue. Online gambling, on the other hand, accounted for almost one-fifth of the industry’s overall revenue.
The figures unveiled by the national trade group representing the local gambling industry do not include tribal casinos because the latter report their revenue separately. According to estimates provided by the American Gaming Association’s vice president David Forman, tribal casinos could report an extra revenue worth approximately $41 billion this year, which would see the entire US casino industry’s revenue surpass the $100 billion mark. Official data revealed that the $60.4 billion won by casinos in 2022 represented an almost 14% growth from the levels registered in 2021.
Atlantic City and The Las Vegas Strip remain among the leading US gambling markets in 2022, with the coast markets of Chicago, Baltimore-Washington DC and Mississippi Gulf also performing pretty well.
Sports Betting and Online Gambling Expansion in the US to Continue in 2023, AGA Experts Say
The American Gaming Association ranked local gambling markets in terms of the customers’ winnings at table games, slot machines and brick-and-mortar sports betting services, with online casino and sports betting services being excluded.
The Las Vegas Strip was first, with a 17% increase to $8.2 billion, followed by Atlantic City, which marked an 8.5% growth to $2.8 billion. The Boulder Strip in Nevada was last, as it remained virtually flat in comparison to the last year’s result, at $966 million. The national gambling trade group also split a number of statewide markets into smaller regional components, including Nevada, Pennsylvania, Mississippi, and Louisiana, which resulted in the dilution of their overall ranking nationwide.
Reportedly, 32 jurisdictions across the US registered an increase in gambling revenue in comparison to 2021, with 29 states setting new annual records. The AGA revealed that 84 million adults across the country, who represented 34% of the US adult population, visited a casino venue over the past year, including newly-opened gambling markets, such as Virginia and Nebraska.
Casino table games registered a 13.9% increase in their revenue, while slot machine revenue was up by 5.1%. Sports betting services continued to grow rapidly in 2022, with the newest form of gambling setting new records for sportsbook revenue – $7.5 billion – and the overall amount wagered by American adults – $93.2 billion. These results were helped partly by the state of Kansas, which legalized retail and mobile sports betting services, as well as by the roll-out of mobile sports betting services in New York, Maryland, and Louisiana.
The AGA predicted that 40 US states might authorize sports betting by the end of the year. For the time being, 36 states plus Washington DC have already made the new form of gambling legal.
Online casino revenue marked a strong increase of 35.2% to $5 billion. Currently, there are six US states that offer online gambling – New Jersey, Delaware, Pennsylvania, Michigan, West Virginia, and Connecticut. The president and CEO of the American Gaming Association, Bill Miller, also noted that five more states have introduced bills seeking to legalize online gambling – Illinois, New York, Maryland, Indiana, and New Hampshire.