U.S. Gaming Marks Third Record Revenue Year in 2023 with $66.5bn

Updated On Feb 21, 2024 by Cameron Bishop

United States Gambling RevenueSummary:

  • The American Gaming Association’s Commercial Gaming Revenue Tracker has announced 2023 as the third year with record revenue.
  • The $66.5 billion total went over 2022’s high of $60.5 billion by 10%.
  • The industry is supporting state and local gaming taxes with an all-time high of $14.4 billion.

According to the American Gaming Association‘s (AGA) Commercial Gaming Revenue Tracker, the US commercial gaming revenue in 2023 managed to reach an annual record of $66.5 billion in 2023.

The figure surpassed the previous year’s high of $60.5 billion by 10% and marked the third record revenue year in a row for the industry.

December 2023, the Highest-Grossing Month in History

Q4 2023 report recorded an all-time high revenue per quarter at $17.4 billion. The amount was anchored by December’s $6.2 billion in revenue, which also represented the highest-grossing month in the industry’s history.

AGA’s president and chief executive officer, Bill Miller, commented on American adults’ increasing appetite for traditional casino experiences and online gaming options which reached an all-time high last year.

This was visible through the online casino sector’s YoY revenue growth of 22.9% to $6.2 billion in the six US states where iGaming has been legalized, and the land casino slots and table games 3.3% increase over 2023 to $49.4 billion.

The 27.8% record increase in the sports betting handle at $119.8 billion and the 44.5% record rise in sportsbook revenue at $10.9 billion were mostly supported by the ongoing maturation across most current markets and the arrival of fresh markets, with special emphasis on Ohio and Massachusetts.

Fueling the Coffers with $14.4 Billion in Direct Gaming Revenue Taxes

The commercial gaming industry’s results helped state and local governments’ coffers get filled with around $14.4 billion in direct gaming revenue taxes in 2023, marking a 9.7% increase on a YoY basis.

Every year, the same industry also brings billions of extra tax dollars shaped as payrolls, income, sales, income, sales, and other types of corporate taxes.

Additional remarks on the full-year 2023 commercial gaming revenue figures were made during AGA’s yearly State of the Industry webinar on February 20.

Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.

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