US commercial gaming grows to $14.31bn in Q113th May 2022 8:05 am GMT
Commercial gaming operators in the United States have enjoyed a strong start to the year as revenue in the first quarter climbed to a record $14.31bn.
The first quarter performance was just shy of the quarterly revenue record set in the fourth quarter of 2021 when revenue amounted to $14.35bn, with a standout performance in March 2022 as revenue hit $5.31bn, marking the highest-grossing revenue month for commercial operators.
“Consumers continue to seek out gaming’s entertainment options in record numbers,” said AGA president and CEO Bill Miller. “Q1’s strong results build on the industry’s record year in 2021 despite continued headwinds from supply chain constraints, labor shortages, and the impact of soaring inflation.”
First quarter revenue of $14.31bn equates to a 29 per cent increase year-on-year, with 32 out of 34 commercial gaming jurisdictions exceeding last year’s quarterly revenue, including record performances in Arkansas ($147.4m), Florida ($182.0m) and New York ($996.6m).
The American Gaming Association (AGA) attributed the result to “tremendous growth” within iGaming and Sports Betting, with land-based gaming achieving quarterly growth amidst a traditional seasonal slowdown.
“Four years post-PASPA, legal sports betting’s success is proving what we’ve known all along: American consumers are eager to wager within the protections of the regulated market,” Miller added. “It also reinforces the need to stamp out offshore, illegal operators who prey on vulnerable customers.”
Commercial gaming operators paid $11.69bn in direct gaming taxes to states and local governments in 2021, a new annual record.