The US gaming industry continues to go from strength to strength as the latest data from the American Gaming Association (AGA) shows that over $32.7bn was made in the first half of 2023.
Per the AGA’s commercial gaming tracker for Q2 and H1, the industry took $16.1bn in GGR for the three months ended June 30, marking an increase of 8.3% year-over-year. The figure was singled out as the second-highest quarterly performance in history.
Ensuring that the industry has bounced back from pandemic woes in fashion, the AGA has now recorded 10 consecutive quarters of growth going back to the beginning of 2021.
For the half year, the industry took in $32.7bn, marking an 11.9% increase YoY. This performance, suggests the AGA, yielded over $7bn in taxes for state governments for the first half of 2023.
“While commercial gaming is on track for an unprecedented third consecutive year of record revenue, the lasting impact we’re making on our communities through this record growth is even more impressive,” said AGA President and CEO Bill Miller.
The vast majority of growth was attributed to the rise of sports betting, which welcomed the launches of Ohio and Massachusetts earlier this year.
During Q2, sports betting GGR across the country stood at $2.3bn, up 58.5% YoY, displaying the growing popularity of the vertical with bettors five years into the industry.
While new state launches were cited as a key driver of the growth, $347.1m in revenue was generated in states where sports betting wasn’t live one year ago, meaning around $2bn was made from the same states. Excluding new states, revenue was up 33% YoY.
Online casino, according to the association, enjoyed robust growth during Q2, with revenue jumping 22.5% YoY to $1.48bn. This was attributed to record revenues reported in Connecticut, New Jersey, and West Virginia.
The vertical is set for a record year in 2023, highlighted by the $2.97bn made in the first half of the year, up 22.6% YoY.
Despite double-digit growth in online gaming, land-based casinos did not enjoy the same surge in Q2. Land-based gaming remained relatively flat YoY though still yielded $12.4bn in revenue, around three-quarters of the entire money made.
Slot games made $8.9bn, up 2.2% YoY, while table games experienced less joy, making $2.46bn, down 2.1% from last year.
“These results are a clear indication that our post-pandemic recovery wasn’t a fluke: the gaming sector continues to thrive, and when we do well, our communities do well,” continued Miller.
“To sustain this momentum, the AGA will continue enlisting more allies in our fight against the illegal market, bolstering responsible gaming, and building a business environment that allows our innovative industry to bring world-class entertainment to adults across America.”
