Business gaming income in the US eclipsed $60 billion for the primary time ever in 2022. It marks the second consecutive yr that the US gaming trade reached a brand new yearly income benchmark.
A crowded Las Vegas Strip readies to ring in 2023 on Dec. 31, 2022. The American Gaming Affiliation says 2022 was the perfect yr ever for the US industrial gaming trade by way of gross income. (Picture: Las Vegas Metropolitan Police Division)
The numbers come from the American Gaming Affiliation (AGA), the DC-based commerce group that lobbies the US and state governments on behalf of its members.
The AGA’s “Income Tracker” compiles quarterly and annual income studies that embody retail slot machines and desk video games, in-person and on-line sportsbook win, and iGaming revenue. The AGA makes use of income numbers equipped by every state gaming regulator to compile the disclosures.
Complete 2022 income got here in at $60.42 billion — a 13.9% year-over-year improve. Slots received $34.19 billion — a 5.1% improve from 2021 — whereas desk earnings climbed 13.9% to $10 billion.
Retail motion, generally known as “conventional on line casino gaming” or “legacy gaming,” continued to thrive as effectively, as 2022 marked a brand new file for brick-and-mortar play.
Our trade considerably outpaced expectations in 2022,” stated AGA President and CEO Invoice Miller. “Merely put, American adults are selecting on line casino gaming for leisure in file numbers, benefitting communities, and taking market share from the predatory, unlawful market.”
Sportsbooks made the most important income features from a yr in the past. Oddsmakers received $7.5 billion for a virtually 73% year-over-year surge. iGaming’s $5.02 billion in gross gaming income (GGR) was greater than 35% increased than in 2021.
Three in 10 Individuals Gamble
There are extra authorized playing retailers for US residents than ever earlier than. Immediately, 34 states plus the District of Columbia have some type of authorized industrial gaming, whether or not conventional brick-and-mortar casinos, sports activities betting or on-line casinos.
The AGA’s Income Tracker doesn’t embody GGR from tribal casinos or their sportsbook and/or on-line gaming operations.
The AGA stated 84 million American adults, or about 34% of the entire inhabitants, visited a retail on line casino in 2022. Nebraska and Virginia joined the US industrial gaming trade final yr with their first on line casino openings.
Retail gaming, or in-person play, accounted for 80.5% of the $60.4 billion in whole income. On-line retailers represented the remaining 19.5%.
The Las Vegas Strip simply maintained its standing because the richest gaming market within the US, with GGR north of $8.2 billion. Probably the most well-known on line casino drag on the planet noticed GGR climb 17%. Atlantic Metropolis remained second at simply shy of $2.79 billion, an 8.5% improve for the New Jersey casinos and their on-line gaming companions. The Baltimore-DC market ranked third at $2.17 billion to edge Chicagoland (IL/IN) at $2.13 billion.
Sportsbooks took extra authorized bets than ever earlier than, too. Oddsmakers accepted roughly $93.2 billion in wagers final yr, with new sports activities betting states, primarily New York, driving the rise.
Sustaining Momentum
This yr can be one other vital yr for the US industrial gaming trade. With the pandemic behind the nation in regard to enterprise disruptions, the trade is concentrated on ongoing financial considerations corresponding to excessive inflation.
Regardless of the challenges, Miller is enthusiastic in regards to the yr forward.
“At the same time as we navigate macroeconomic headwinds, I’m optimistic in regards to the yr forward,” Miller continued. “To hold our momentum into 2023, the AGA stays targeted on combating the unlawful market, doubling down on duty, and creating favorable coverage and regulatory circumstances that allow our trade’s sustained success.”
