Friday, June 9, 2023

Commercial gambling in the US hits a new high with US$16.6 billion in Q1 YogoNet Latin America

According to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker report, the US commercial gaming industry achieved a new quarterly high of more than $16 billion over a three-month period in the first quarter of the year. The quarter was also characterized by the month of March, the month with the highest collections in the region, with USD 5.9 billion, representing an annual growth of 10.3%.

The USD 16.6 billion collected in the first quarter, an annual growth of 15.5%, marked the eighth consecutive quarter in which the sector broke records. Nationwide, 18 of the 35 commercial gaming markets set new revenue records for the quarter, with only Mississippi surpassing its 1Q 2022 quarterly revenue.

“After two full years of post-COVID growth, America’s gaming industry has never been stronger,” said Bill Miller, AGA President and CEO. “With records across all gaming verticals – from land-based casinos to mobile games – American adults continue to choose gaming as one of their top entertainment choices,” he added.

Income by Gaming Vertical

According to AGA, all verticals of the gaming business posted quarterly revenue records in the first quarter. Retail gaming accounted for 75.3% of total revenue, while online gaming accounted for an all-time high of 24.7%. A more detailed analysis of each sector shows the following figures:

Commercial gambling in the us hits a new high with us$16. 6 billion in q1 yogonet latin america

  • Traditional gaming: Traditional casino gaming generated quarterly revenue of $12.3bn in the third quarter of 2022, an increase of 7%, surpassing the previous high of $12.26bn. 13.8% to $8.83 billion and 13.5% to $2.50 billion, respectively.
  • Legal Sports Betting: Nationwide, Americans bet a record $31.1 billion on sports in Q1 2023, generating an all-time high of $2.79 billion in quarterly revenue (a 70.1% increase year-over-year). Compared to Q1 2022, growth was largely driven by the launch of new markets in Kansas, Massachusetts and Ohio, and the launch of mobile betting in Maryland. Ohio established itself as a major player during this period, generating $387.3 million in revenue and $2.49 billion in handling, the nation’s second largest market after New York.
  • iGaming: iGaming brought in $1.48 billion in Q1 2023, up 22.7% year-over-year in revenue. Six iGaming markets were active during the quarter (excluding Nevada Online Poker), which was unchanged from a year ago.

In terms of individual casinos, 17 of the 20 top-revenue commercial casinos outside Nevada experienced growth compared to the first quarter of 2022. MGM National Harbor in Maryland maintained its position as the top-revenue casino, while Encore Boston Harbor in Massachusetts fared better. Live! Casino de Maryland to secure second place.

Commercial gambling in the us hits a new high with us$16. 6 billion in q1 yogonet latin america

Kingdom of states

In conjunction with the first quarter report, the AGA released its annual State of the States report, which provides a state-by-state economic and regulatory analysis of commercial gambling in the United States in 2022 for policy makers, gambling stakeholders and industry observers. Is. ,

The State of the States 2023 shows commercial gambling set a record $13.48 billion in direct gambling tax revenue paid to state and local governments in 2022, up 15.3% from 2021. “This does not include the billions most paid in income, sales or other taxes.” notes the association.

Commercial gambling in the us hits a new high with us$16. 6 billion in q1 yogonet latin america

“As one of the largest taxpayers in states across the country, we know that when sports is successful, so are our communities,” Miller said. “Beyond our significant tax contribution, our industry is rooted in local communities, driving economic growth through job creation, supporting local charities and nonprofits, and setting the standard for corporate responsibility ,” Express.

The report details the financial performance of the commercial gambling industry, including analysis for each of the 35 jurisdictions with commercial gambling operations in 2022. The report, developed in conjunction with VIXIO Gambling Compliance, also provides analysis of the legality of gambling types and the number of gambling transactions. Casinos by State, summarizes key gaming policy debates and anticipates opportunities and challenges for the industry.

Nation World News Desk
Nation World News Desk
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