The American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker reveals that Q3 2023 marked a historic period for the U.S. commercial gaming industry, generating a record $16.17 billion in revenue. This quarter represents the 11th consecutive quarter of growth, showcasing the resilience and sustained momentum of the industry.
Annual Revenue Growth Continues:
Q3 2023 reflects the 11th consecutive quarter of annual revenue growth, positioning the industry for a third straight record year. The pace is 9.9% ahead of the same period in 2022 through September.
All-Time Quarterly Records:
Land-based casinos and online gaming achieved all-time quarterly records. Traditional slot machine and table game revenue combined reached $12.49 billion, marking a 1.8% year-over-year increase. iGaming grossed $1.52 billion, demonstrating a robust 26% growth.
Sports Betting Surge:
In-person and online sports betting reported a strong quarter with revenue increasing by 22.8% year-over-year to $2.15 billion. Growth was particularly notable in states like Maryland (online), Massachusetts, Nebraska, and Ohio, which were not operational a year ago.
Record Year for Sports Betting:
Americans wagered $79 billion in the first nine months of 2023, marking a substantial 32.7% increase from the previous year. The consistent growth highlights the popularity of legal, regulated sportsbooks.
Tax Contributions:
Commercial gaming operators contributed an estimated $3.43 billion in taxes directly tied to gaming revenue, showcasing a 4.7% year-over-year increase.
Industry Impact and Outlook:
AGA President and CEO Bill Miller emphasized the significant impact of the gaming industry, providing career opportunities for millions and contributing substantially to communities through increased tax revenue. The sustained momentum underscores gaming as a preferred entertainment option for American adults. Miller also emphasized the need for federal and state enforcement against illegal, offshore operators, given the continuous migration of Americans to legal, regulated sportsbooks.
Q3 2023 stands out as a pivotal period for the U.S. commercial gaming industry, achieving unprecedented revenue figures and reinforcing its position as a driving force in the entertainment sector. The data reflects the industry’s adaptability and ability to thrive across various verticals, setting the stage for a potential record-breaking year in 2023.