AGA tracks record US gaming revenue of $15.2bn in Q3

The regulated US gaming industry continues to thrive following another record quarter as chronicled by the American Gaming Association (AGA). According to the AGA’s Commercial Gaming Revenue Tracker, total US gaming revenue reached $15.17bn in the third quarter of 2022, eclipsing the previous record of $14.81bn – established in Q2 of 2022 – by 2.4%. For the calendar year, commercial gaming revenue is on pace to top 2021’s figures by nearly 15% while having already surpassed the full-year revenue mark from 2019. The bedrock of the industry remains land-based casinos, with slots and table games accounting for over 80% of total commercial gaming revenue at $12.27bn. But the increasing prominence of sports betting and igaming continues to be a driving force behind the industry’s steady growth. Revenue from sports betting amounted to a quarterly record of $1.68bn – an increase of 80.6% year over year (YOY) – while igaming generated $1.21bn in Q3 revenue. The record returns have come amid the backdrop of an ongoing economic downturn, an indicator that the macroeconomic environment has yet to materially impact consumers as it pertains to gaming. “While business challenges remain, high consumer demand continues to fuel our industry’s record success,” said AGA president and CEO Bill Miller. “Our sustained momentum in the face of broader economic volatility points to gaming’s overall health today and provides confidence as we look to the future.” Overall, commercial gaming saw growth of 8.8% YOY in the third quarter, significantly outperforming the 2.6% growth rate of the broader US economy. At a state level, 16 of the 33 states that were operational with commercial gaming in 2021 reported record quarters. That includes five of the largest six markets in New York, New Jersey, Nevada, Michigan, and Indiana.