A record-breaking year
US commercial gaming revenue reached $60.4bn in 2022, setting a new annual record for the second consecutive year. The American Gaming Association (AGA) released a full breakdown of last year’s commercial gaming results on Wednesday.
Q4 revenue reached an all-time quarterly record
It is the first ever time that commercial gross gaming revenue (GGR) has passed the $60bn mark, with the previous record of $53bn set in 2021. A strong close to 2022 helped the sector hit new highs as Q4 revenue reached an all-time quarterly record of $16bn.
Around 34% of American adults visited a casino at some point throughout 2022, according to the AGA.
Taking a closer look
Breaking down the $60.4bn in total revenue, over $34bn came from slots, while $10bn was generated through table games. Sports betting GGR was up almost 73% for the year, reaching $7.5bn. iGaming GGR reached $5bn.?
In terms of retail versus online gaming, the retail sector accounted for over 80% of the total GGR last year. According to the AGA press release, about 84 million American adults paid a visit to a casino at some point in 2022.?
The strong increase in sports betting GGR was aided by the launches of sportsbooks in Kansas, New York, Maryland, and Louisiana. Legal sports betting is now up and running in 33 states and Washington DC. While no new iGaming markets launched during the period, GGR for the sector still grew 35%.?
Optimistic for 2023
AGA CEO and president Bill Miller commented on the results, affirming that the industry significantly surpassed expectations in 2022. Miller said: “Simply put, American adults are choosing casino gaming for entertainment in record numbers, benefitting communities, and taking market share from the predatory, illegal marketplace.”
continue battling against the illegal gambling market
The AGA is optimistic that the market can maintain its growth in 2023. Miller said the industry body will continue battling against the illegal gambling market, while also focusing on improving responsibility in the sector and helping create favorable regulatory and policy conditions across the country.