On Tuesday (20th Feb 2024) the American Gaming Association (AGA) disclosed that the 2023 commercial revenue from casinos and sports betting – including riverboats, racinos, iGaming – reached a new annual level of $66.5 billion. This high constitutes a 10% premium year-over-year and a third year of record growth.
AGA President and CEO Bill Miller said the adult American demand for online gaming and the popular traditional casino experience is at an all-time high.
Adding “Sustaining our momentum will take unified industry efforts around combating pernicious illegal operators and growing responsible gambling efforts in tandem with the growth of the legal market — both of which the AGA is committed to lead on throughout 2024.”
This gross gaming revenue figure also includes activity from table games, sports betting and retail slots at online internet betting sites and casino offerings. However, the revenue from tribal casinos and US lotteries is not included.
In-person slot machines and table games, combined to win $45.82 billion, while legacy income in 2022 was $44.19 billion, which was around 4% less, or $1.63 billion below.
Illinois, Virginia, and Nebraska Increased Their Casino Offerings
These figures point towards the online gaming activity not impacting the legacy interest by much. However, these figures could be taken skewed slightly with states like Illinois, Virginia, and Nebraska new kids on the gaming block and in the process enlarging their casino offerings.
The Sports betting sector, which is currently legal in around 40 US states, witnessed $10.92 billion from in-person and online activity.
At the other end of the state legal spectrum – iGaming, which is allowed in only six US states, which include Michigan, New Jersey, West Virginia, Pennsylvania, Connecticut and Delaware, saw revenue of $6.17 billion from players behind a laptop or mobile device.
Las Vegas Strip Tops The Leading Casino Sites
No surprise to see the Las Vegas Strip topping the leading casino sites up 7% to $8.83 billion, with Atlantic City way back in second at $2.85 billion, but was still a small 2.5% increase from the previous year.
In third came Chicagoland, which covers casinos in Windy City and Northwest Indiana, was third at $2.19 billion.
With this big hike in revenue, the US Government were also rubbing their hands in 2023, with gaming revenue producing $14.4 billion in state and local gaming taxes, which is a record.
AGA CEO Miller added. “We are proud to be in 47 US jurisdictions, acting as economic drivers, creating jobs, and providing the funding that makes critical public education programs, infrastructure projects, problem gambling resources, and more possible.”
The 25 states that currently have commercial casinos/racinos also saw a legacy increase from 2022.
However, the other eight US state, saw their in-person slot and table decline from 2022 – these areas were Florida, Michigan, Indiana, Maryland, Mississippi, Louisiana and West Virginia
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