The American Gaming Association (AGA) has announced that the US commercial gaming industry achieved a milestone year in 2022, with record-breaking annual revenue of $60.4 billion. This remarkable figure surpasses the previous record of $53 billion established in 2021, highlighting the industry’s resilience and growth.
Robust Visitor Engagement:
The AGA’s Commercial Gaming Revenue Tracker reveals that 84 million American adults, representing 34 percent of the adult population, visited casinos during the past year. Notably, this includes individuals from new markets such as Nebraska and Virginia. The appeal of casino gaming remains strong, underscoring its status as a popular entertainment choice.
Table Game and Slot Machine Growth:
The demand for table games experienced a significant surge, with a noteworthy 13.9 percent year-over-year increase in revenue. Slot machines also demonstrated positive growth, recording a 5.1 percent annual rise. This combined growth underscores the diverse offerings that cater to a wide range of player preferences.
Thriving Sports Betting Market:
The legal sports betting market attained new heights in 2022, achieving record-breaking figures for both handle ($93.2 billion) and revenue ($7.5 billion). The expansion of legal sports betting into states such as Kansas, Louisiana, Maryland, and New York contributed to this robust growth. Furthermore, the online casino segment witnessed a remarkable 35.2 percent year-over-year revenue increase, amounting to $5 billion in states where online gaming is legalized.
Strong Q4 Performance:
The final quarter of 2022 marked a pivotal period, with a quarterly revenue record of $15.9 billion. This achievement was driven by outstanding performances in sports betting and igaming. Traditional gaming also exhibited steady growth of 1.7 percent year-over-year. The revenue breakdown indicated that retail gaming constituted 80.5 percent of total revenue, while online gaming achieved a new high of 19.5 percent.
Optimistic Outlook:
AGA President and CEO Bill Miller expressed his optimism regarding the industry’s outlook, noting that the impressive results exceeded expectations. Miller highlighted the growing popularity of casino gaming among American adults, attributing the industry’s success to its ability to provide superior entertainment options. He also emphasized the importance of combating the illegal market, prioritizing responsible gaming, and fostering a favorable regulatory environment for the industry’s continued prosperity.
The US commercial gaming industry’s remarkable achievement of record-breaking revenue in 2022 underscores its resilience, adaptability, and capacity to cater to diverse player preferences. With the momentum gained in 2022, the industry looks forward to a promising future, driven by innovative offerings, responsible gaming initiatives, and favorable policy developments that contribute to sustained growth.