October was the US’ second-best commercial gaming month on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker.
Data from the AGA’s tracker – which measures state-by-state and nationwide US commercial gaming financials – also revealed that revenue grew across all verticals during the month, including combined slot and table games setting a new all-time monthly record.
For October, the AGA has reported that the US commercial gaming industry earned $5.29bn in revenue, its second-best month behind only March 2022’s $5.35bn. Despite macroeconomic concerns, GGR was up 10.5% year-over-year, marking the 20th consecutive month of YoY growth.
Year-to-date (YTD), commercial gaming revenues have reached $49.85bn, a 14.7% improvement YoY.
Per market, 26 of 33 commercial gaming jurisdictions that were operational a year ago (besides Arizona which is yet to report October data) witnessed YoY revenue growth in October. Monthly gaming win contracted or remained flat in Delaware (-3.7%), Maine (-2.8%), Missouri (-4.7%), New Jersey (-0.7%), Ohio (-0.3%), and Oklahoma (-0.4%).
YTD, only three jurisdictions are behind their GGR pace YoY – the District of Columbia (-9.2%), Mississippi (-3.6%), and South Dakota (-0.6%).
The AGA noted that while DC’s small sports betting market hold percentage can affect revenue, the declines in Mississippi and South Dakota are largely due to “tougher than average comparisons as COVID-restrictions in those states were eased earlier in 2021 compared to most other gaming jurisdictions”.
Combined slots and table games post new monthly high
All gaming verticals saw their October revenues rise YoY. Slots were once again the biggest contributor towards the overall GGR total with $2.91bn, a 2.4% increase. Table games revenue improved by 1.9% to $846.9m.
The combined slots and table games GGR came in at a new all-time monthly record of $4.03bn, 76.2% of the total GGR for October, and a 1.5% increase YoY. YTD, slots and table games have earned a revenue of $39.97bn, a 7.4% YoY uptick.
Nebraska had its first full month of land-based casino slot gaming in October after launching its market on September 24. The AGA stated that the state’s first commercial racino grossed about $4.3m in revenue, with monthly revenue per slot machine matching or outpacing nearby Iowa, Kansas, and Missouri.
Sports betting saw the biggest yearly increase following a busy sporting calendar and the introduction of three new markets compared to the previous year.
The vertical grew by 77.7% YoY to $804.7m, 15.2% of the overall GGR for October. $9.07bn was wagered during the month, the biggest monthly handle since January.
YTD, across 27 jurisdictions, sports betting handle stands at $73.11bn while GGR is $5.76bn, a 70% and a 77.9% increase YoY respectively compared to October 2021 when only 24 markets were operational.
Meanwhile, igaming GGR – in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia – hit $453.1m, a 26.8% YoY uptick and 8.6% of the month’s overall GGR. YTD, igaming revenue stands at $4.08bn, up 38.1%.
The AGA added that September and October have seen “the highest proportion of commercial gaming revenue come from these emerging verticals since the peak of pandemic-driven casino closures in 2020”.
Last month, Bill Miller, CEO and President of the AGA called for the US legal gaming industry to “work together” to combat illegal and unregulated operators.
Miller’s request came with a new report which stated that Americans are wagering an estimated $511bn a year on illegal sportsbooks, igaming websites, and unregulated machines.
