A thriving industry: Casinos on track for record year
Commercial gaming in the United States had a record second quarter and is on track to shatter the annual record set last year.
The American Gaming Association on Wednesday reported revenue of $16.07 billion for the quarter that ended June 30, beating last year’s second quarter by 8.1 percent. It was the industry’s second-best quarter in history, only trailing this year’s first quarter. It was the 10th straight quarter of annual growth.
“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.
For the first half of 2023, the nation’s commercial casinos reported $32.71 billion, tracking 11.9 percent ahead of the same period in 2022.
The revenue generated by casinos nationwide resulted in state and local tax revenue totalling $7.28 billion.
The AGA also said:
— Land-based gaming accounted for $12.38 billion in revenue in the second quarter (up 0.9 percent year-over-year), more than three-quarters of total commercial gaming revenue.
— Combined online and land-based sports betting revenue totaled $2.3 billion in the second quarter, an industry record for any second quarter and a 56.6 percent year-over-year increase.
— iGaming tied the first quarter for its highest-grossing quarter ever, generating $1.48 billion in revenue, up 22.5 percent over the second quarter of 2022.
— 23 of 34 commercial gaming jurisdictions that were operational one year ago increased second-quarter revenue from 2022.
“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,” Miller said. “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.”
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X, formerly known as Twitter.