The American Gaming Association (AGA) has published its Commercial Gaming Revenue Tracker for the first quarter of 2022, reporting a new Q1 revenue total record of $14.31bn that also almost matches the all-time quarterly record.
The strong start to the year was up 29% year-over-over and up 34% when compared to Q1 2019. Q1 2022’s $14.31bn was just behind Q4 2021’s all-time quarterly record of $14.35bn.
The AGA notes that consumer gaming spending remained strong as revenue grew YoY across all verticals, with noteworthy increases in slot and table games, and all-time quarterly highs in sports betting and igaming.
March’s revenue performance of $5.31bn was a special highlight in Q1 as well, as it marked the highest-grossing revenue month in industry history. It was also an increase of 18.5% from March 2021.
“Consumers continue to seek out gaming’s entertainment options in record numbers,” commented AGA President and CEO, Bill Miller.
“Q1’s strong results build on the industry’s record year in 2021 despite continued headwinds from supply chain constraints, labor shortages, and the impact of soaring inflation.”
The AGA stated that nearly every (32 of 34) commercial gaming jurisdiction surpassed Q1 revenue from 2021. Three states also set quarterly records: Arkansas ($147.4m), Florida ($182.0m), and New York ($996.6m) – which was elevated by the Empire State’s January launch of online sports wagering.
Sports betting and igaming set all-time quarterly records, while land-based gaming showed quarterly growth amidst a traditional seasonal slowdown.
Per vertical GGR, slots came in at $8.19bn (19.4% growth over Q1 2021), table games at $2.38bn (42.7% increase over Q1 2021), sports betting at $1.58bn (64.6% improvement over Q1 2021), and igaming at $1.21bn (53.9% rise over Q1 2021).
This Saturday also marks four years since the decision by the Supreme Court to invalidate the Professional and Amateur Sports Protection Act, legalizing sports betting across the US. 34 states plus Washington DC have legalized sports wagering since PASPA was repealed in May 2018.
Miller added: “Four years post-PASPA, legal sports betting’s success is proving what we’ve known all along: American consumers are eager to wager within the protections of the regulated market. It also reinforces the need to stamp out offshore, illegal operators who prey on vulnerable customers.”
The AGA has also recently released its annual State of the States report, an economic and regulatory analysis of US commercial gaming by state.
Compiled with Vixio GamblingCompliance, highlights from this year’s report include a new annual record for commercial gaming of $53.03bn, a 21.5% increase from the previous high in 2019.
Commercial gaming operations also yielded a record direct gaming tax revenue of $11.69bn paid to state and local governments, up 75% from 2020 and 15% from 2019. This does not include the billions more paid in income, sales, or other taxes.
Every single jurisdiction with commercial casino or sports betting operations reported an increase in gaming revenue during 2021 as well compared to 2020. 23 of 34 jurisdictions achieved record annual commercial gaming revenue in 2021 too.
The top 10 commercial gaming markets for 2021 were Las Vegas Strip ($7.05bn), Atlantic City ($2.57bn), Chicagoland ($2.01bn), Baltimore-Washington DC ($2bn), Gulf Coast ($1.61bn), New York City ($1.46bn), Philadelphia ($1.4bn), Detroit ($1.29bn), St Louis ($1.03bn), and Boulder Strip ($967m).
Reflecting on the State of the States report, Miller said: “Our industry’s success goes beyond the bottom line and into communities across the country.
“The record state and local tax contributions fund vital services from infrastructure and education to healthcare and emergency services.”