The American Gaming Association (AGA) has reported record-breaking figures for August, with commercial gaming revenue reaching an impressive $4.89 billion. This represents a remarkable 10 percent increase year-on-year and marks the 18th consecutive month of positive revenue growth. The pace of growth accelerated after a brief slowdown, indicating a thriving industry. The results are poised to make 2022 another record-setting year, with total commercial gaming revenue for the first eight months of the year reaching $39.21 billion, a significant 14.9 percent ahead of 2021.
Notable Growth in Specific States
Nevada continues to lead the pack, generating the highest revenue of $1.2 billion in August, followed by New Jersey with $471 million and Pennsylvania with $429 million. Virginia emerged as a standout performer, boasting an astounding 185 percent year-on-year growth. Other states that experienced substantial revenue growth include New Hampshire with 163 percent and Oregon with 155 percent. In contrast, only four of the 31 commercial gaming jurisdictions in the United States recorded a decline in revenue compared to the previous year.
Strong Performance in Land-Based Casinos
Revenue from land-based casino slot machines and table games reached a combined total of $4.02 billion, indicating a 2.5 percent increase over the previous year. Slot machines contributed $2.92 billion, representing a 1.7 percent growth, while table games saw an impressive 3.4 percent increase, generating $810.7 million. Although data from Louisiana and Michigan were not included in the separate slot and table game figures, their contributions were captured in the overall nationwide figure.
Sports Betting Demonstrates Resilience
Despite a seasonal summer lull, sports betting continues to demonstrate resilience, with a nationwide handle of $4.54 billion, a remarkable 48.6 percent increase year-on-year. Operators raked in $471.4 million in revenue, more than doubling the previous year’s figures, thanks to the addition of six new regulated states since August 2021. Assuming this growth continues, annual sports betting handle is expected to surpass the $100 billion milestone this year.
iGaming Flourishes Across Markets
The combined revenue from iGaming operations in specific states showed a 31.9 percent year-on-year increase to $401.8 million. All markets reported annual growth, with August 2021 having one less operational iGaming market, Connecticut, which launched in October. Year-to-date, iGaming revenue reached an impressive $3.21 billion, marking a substantial 39.9 percent increase compared to the same period in 2021.
The Future of the Gaming Industry
The success and growth across various gaming verticals, including land-based casinos, sports betting, and iGaming, highlight the resilience and potential of the gaming industry. The AGA’s Commercial Gaming Revenue Tracker provides valuable insights into the industry’s performance on a state-by-state basis, indicating a positive outlook for the future. As revenue records continue to be broken, the gaming industry remains a driving force in the U.S. economy and entertainment sector.