The American Gaming Association (AGA) has released its Commercial Gaming Revenue Tracker, revealing that the US commercial gaming industry achieved a remarkable milestone in January. With total revenue reaching an all-time high of $5.5 billion, the sector marked its 23rd consecutive month of growth. This growth is attributed to several factors, including the soaring popularity of sports betting and strong performances in traditional casino gaming and iGaming. Let’s delve deeper into these impressive statistics and explore the key drivers behind this record-breaking achievement.
Record Sports Betting Revenue:
One of the standout features of January’s report is the record-breaking sports betting revenue, which surpassed $1 billion for the first time. This milestone was reached through a substantial handle of $10.9 billion across 29 live commercial markets. The increase in sports betting activity can be attributed to the addition of three new markets since January 2022: Arkansas, Maryland, and Ohio.
Robust Casino Gaming Revenue:
Traditional casino gaming revenue also experienced robust growth, reaching $3.99 billion in January, reflecting a significant year-on-year increase of 14.3 percent. Within this category, slot machines generated $2.86 billion, marking a 15.5 percent increase, while table games contributed $838 million, demonstrating a year-on-year growth rate of 14.7 percent.
Thriving iGaming Sector:
The iGaming sector continued its upward trajectory, with operations in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia collectively reporting a 20.6 percent year-on-year increase in revenue, reaching $482 million. This figure tied with the single-month record set in December 2022. Impressively, all six markets exhibited annual growth, with Connecticut, Michigan, and New Jersey even setting single-month state records.
The AGA’s Commercial Gaming Revenue Tracker for January underscores the vitality and resilience of the US commercial gaming industry. Achieving a record-breaking $5.5 billion in revenue and maintaining 23 consecutive months of growth are remarkable milestones. The rapid expansion of sports betting, robust performance in traditional casino gaming, and the flourishing iGaming sector collectively contribute to this exceptional success. As the industry continues to evolve and adapt, it remains a dynamic and thriving force within the US economy.