The American Gaming Association (AGA) has recorded the 23rd consecutive month of gaming revenue growth as January 2023 sets another record for the industry.
Publishing its Commercial Gaming Revenue Tracker for January, the AGA declared total gaming GGR of $5.5bn, up 21.1% year-over-year as new sports betting launches and the increased take-up of gaming continue to push up operators’ fortunes.
Sports betting was the fastest-growing vertical in January, buoyed by the launch of Ohio’s regulated sports betting market. $1.02bn was declared in sports betting GGR during January, up 58.2% YoY. This also marks the first month that sports betting GGR topped $1bn in one month.
Meanwhile, slot games took in $2.86bn in GGR in the first month of 2023, up 15.5% YoY, still showing strong growth nationwide.
Table games generated $838m in GGR, up 14.7% YoY, whilst online casinos took in $482m during January, up 20.6% on the corresponding month in 2022.
In terms of retail vs online split, land-based gaming is still described as “the bedrock of the revenue structure”, online gaming has taken some of that market share and now sits at 26% of all revenues.
Sports betting across almost all states that were live in January 2023 saw growth in revenue, apart from Washington DC, which lost 23.8% on revenue, attributed to the launch in Maryland, and West Virginia, which declined by 6.3%.
On the online casino front, revenue in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia increased by 20.6% YoY, equalling the record set in December 2022.
Connecticut, Michigan and New Jersey all set new single-month state records for online casino.