The American Gaming Association (AGA) declared that US commercial gaming income reached a record $16.07 billion in the second quarter. This marks the tenth consecutive quarter of expansion.
Digital gaming was the primary force behind this surge. This signifies an 8.1% leap compared to the second quarter of 2022, making it the second-highest quarterly income in history. Only the initial quarter of this year witnessed higher income.
Overall, the US gaming sector produced $32.71 billion in commercial gaming income during the first six months, an 11.9% increase from the previous year.
The AGA estimates that these outcomes generated $7.28 billion in gaming taxes for state and local governments, a 12.9% increase from 2022. The organization believes the industry is on course to generate its highest-ever total tax revenue.
“While commercial gaming is on track to break income records for the third year in a row, we are even more impressed by the enduring effect we are having on communities through this record growth,” said Bill Miller, president and CEO of the AGA.
Internet gambling was the primary driver of the increase in US gaming income in the second quarter. The AGA highlights that land-based gaming still accounts for more than three-quarters of total commercial income during this period.
However, the expansion of the online sports wagering and internet gaming industries was the primary factor contributing to growth compared to the previous year.
In the second quarter, land-based slot machines, table games, and retail sports wagering income amounted to $12.38 billion, a 0.9% increase from 2022. In contrast, online gambling revenue increased by 43.1% to $3.68 billion.
The expansion of regulated online gambling operations into new states was a major catalyst for growth. Over the past year, Kansas, Maryland, Massachusetts, and Ohio have all launched online gambling operations.
A less active sports wagering schedule resulted in lower OSB outcomes compared to the first quarter.
Total online and land-based sports betting revenue reached $2.3 billion in the second quarter of 2023. This represented a 56.6% increase from the same period last year. However, a less active sports betting schedule resulted in lower revenue in the second quarter compared to the preceding quarter.
Meanwhile, online casino revenue grew at a more moderate pace, increasing 22.5% to a total of $1.48 billion.
“These outcomes clearly demonstrate that our post-pandemic recovery is not a coincidence: the gaming industry continues to flourish, and when we succeed, our communities prosper as well,” Miller stated.
“To maintain this momentum, the American Gaming Association will continue to mobilize more allies to combat illicit markets, strengthen responsible gaming practices, and create a business environment that is conducive to our innovative industry bringing world-class entertainment to adults across America.”
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