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Reports

AGA’s Commercial Gaming Revenue Tracker for 2023

Wednesday 03 de April 2024 / 12:00

2 minutos de lectura

(Washington).- AGA’s Commercial Gaming Revenue Tracker provides state-by-state and cumulative insight into the U.S. commercial gaming industry’s financial performance based on state revenue reports. This issue highlights results for the full calendar year 2023, as well as the fourth quarter.

AGA’s Commercial Gaming Revenue Tracker for 2023

The U.S. commercial gaming industry in January extended its multi-year expansion with a 4.9 percent increase in commercial gaming revenue compared to the previous year. This marked the industry’s 35th consecutive month of year-over-year growth, a new January record and the third highest-grossing single month. According to data sourced from state regulators and compiled by the American Gaming Association (AGA), combined revenue from traditional casino games, sports betting and iGaming reached a $5.82 billion for the month.

Following strong revenue expansion in December, the pace of commercial gaming revenue growth moderated to 4.9 percent in January. The growth was driven entirely by the continued expansion of the sports betting and iGaming verticals, which more than made up for the decline in traditional gaming revenue.

In total, 21 of 36 commercial gaming jurisdictions that were operational a year ago and had published full January data at the time of writing saw combined revenue from traditional casino games, sports betting and iGaming expand from the previous year. Sports betting revenue was not yet available for Kentucky.

January revenue from land-based gaming—encompassing casino slots, table games and retail sports betting— totaled $3.82 billion, a 5.9 percent decline compared to the previous year. The decrease is driven in part by increasingly difficult annual comparisons following years of exceptional growth and in part by harsher winter weather conditions experienced across many regions of the country, which led to a reduction in in-person casino revenue compared to the milder conditions observed in January of the prior year. Similar to 2023, it’s likely that tough comparisons will loom larger throughout 2024 as the industry continues to compare with the commercial gaming’s highest grossing months ever.

Conversely, online gaming, which encompasses both online sports betting and iGaming, reported revenue of $1.98 billion nationwide, a 34.4 percent increase year-over-year. This growth rate, while strong, marks a deceleration compared to December.

In January, traditional casino slot machines and table games collectively generated revenue of $3.75 billion, reflecting a year-over-year decrease of 6.0 percent. Breaking down this total, slot machines generated $2.72 billion, down 4.8 percent, while table game revenue dipped by 7.6 percent to $772.7 million. Note that the individual slot and table game figures exclude data from Louisiana and Michigan due to disparities in state reporting methodologies; however, their combined figures contribute to the nationwide total.

At the state level, 22 out of the 27 states offering traditional casino slot machines and/or table games posted a year-over-year revenue decline in January with an average decline of 9.9 percent. Among the five states that experienced revenue gains, Illinois, Nebraska and Virginia benefited from the addition of several new casinos compared to January 2023, including four in Illinois, two in Virginia and one in Nebraska. When excluding casinos that opened during the past year, Illinois land-based casino revenue declined by 13.6 percent year-over-year, while the Nebraska casino market dipped 2.8 percent. In Virginia, Bristol Casino – the only property operating throughout January 2023 – saw revenue drop 10.1 percent year-over-year. In other words, same-store growth in traditional casino revenue was only realized in Colorado (+2.2%) and Florida (+0.1%).

In the Mid-Atlantic, the Delaware casino market experienced a 30.3 percent decline year-over-year, reflecting an exceptionally tough comparison as January 2023 had been the highest grossing month for the state’s casinos since February 2012.

In January, nationwide sports betting revenue expanded by 39.2 percent year-over-year to reach a new monthly high of $1.48 billion. The record month underscores continued momentum of U.S. sports betting market across most legal jurisdictions. Notably, more than five years after its launch, New Jersey generated sports betting revenue of $170.8 million – a new single-month record for any state outside of New York – while the Empire State set a new monthly record with $211.7 million.

The busy January sports calendar, combined with Vermont joining as the 33rd jurisdiction to offer commercial sports betting, contributed to a robust commercial sports betting handle of $13.62 billion, an 18.5 percent increase compared to the previous year.

Note, January sports betting figures exclude data from Kentucky as it had not reported at the time of publication.

In January, Vermont became the 33rd jurisdiction to offer commercial sports betting, while 30 were operational a year earlier. Additionally, customers in 29 jurisdictions had the option to place bets online, with five states (Delaware, Massachusetts, Maine, Kentucky and Vermont) having launched mobile options over the past year.

In January, combined revenue generated by iGaming operations in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia increased 19.2 percent year-over-year, reaching $574.6 million. This represents the second-highest grossing month ever for iGaming revenue, following closely behind December 2023’s $589.9 million.

All six iGaming markets saw gains compared to the previous year and three reported monthly revenue records, including Michigan ($181.9 million) and New Jersey ($183.3 million), though Delaware experienced the most substantial boost With Delaware Lottery’s new iGaming partner, BetRivers, revenue generated by online slots and table games nearly tripled (186.5%) from the previous year, reaching a state record of $3.41 million.


 

Categoría:Reports

Tags: American Gaming Association,

País: United States

Región: North America

Event

GAT EXPO CARTAGENA DE INDIAS 2024

09 de April 2024

Casino Garage: committed to sustainability

(Cartagena de Indias, Exclusive SoloAzar) - Meet Ester Tarres, the visionary behind Casino Garage, a world leader in refurbishing second-hand slot machines since its creation in 2006. With a team of professionals, Casino Garage has become synonymous with excellence. In this article, Ester tells us about her presence at the GAT Expo, held from 9 to 11 April.

Tuesday 07 May 2024 / 12:00

Responsible Gaming, Regulation and Certification in Latin America and the Caribbean

(Cartagena de Indias, Exclusive SoloAzar). - Karen Sierra-Hughes, Vice President for Latin America, the Caribbean and Spain at GLI (Gaming Laboratories International), led the GLI Corporate Conference: Technology and Sustainable Gaming. With her extensive experience as a gaming regulatory consultant in the region, Karen offered key perspectives on how technology can drive sustainability in the gaming industry.

Tuesday 07 May 2024 / 12:00

Unveiling innovations: WA.Technology's highlights from GAT Expo 2024

(Cartagena de Indias, SoloAzar Exclusive).- In an exclusive interview with Patricio Molloy, Business Development Latam at WA.Technology, we delve into the latest offerings showcased by this leading gaming solutions supplier firm at the GAT Expo Cartagena 2024. From a comprehensive iGaming platform to cutting-edge AI integration, discover how this company is shaping the future of gaming experiences in Latin America and beyond.

Monday 06 May 2024 / 12:00

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