The U.S. commercial gaming industry has experienced a significant milestone with a record-breaking revenue of $16 billion in Q2. This remarkable achievement solidifies the industry's growth and sets the stage for yet another successful year. This is a historic record as it is the second-highest grossing quarter in industry history. The numbers signal the industry's direction towards another banner year.
According to the American Gaming Association (AGA), Q2 2023 saw an impressive 8.3% year-over-year increase, making it the 10th consecutive quarter of growth for the gaming industry overall.
The exceptional performance extends beyond Q2, with the first half of 2023 generating a total revenue of over $32.7 billion, representing an 11.9% rise from the same period last year. The previous year, 2022, set a record-breaking revenue of $60.4 billion, and 2023 seems poised to surpass that, setting the stage for a third consecutive year of new records.
Legacy gaming remains a cornerstone of the industry, with casino slot machines contributing $8.89 billion in Q2, marking a 2.2% increase from the previous year. Table games generated $2.46 billion, showing a modest 2.1% decline compared to Q2 of 2022.
Interestingly, online gaming experienced a surge in revenue, with a 57% increase amounting to $2.3 billion. The digital realm, including interactive mobile slots and table games, generated $1.48 billion, with online casino revenue seeing a 22.5% growth across the six states where it is permitted.
The AGA, led by President and CEO Bill Miller, focuses not only on the industry's financial success but also on its positive impact on communities. The industry has contributed approximately $7.3 billion in tax benefits to state and local governments during the first half of 2023. Miller emphasizes the importance of fighting against the illegal market, promoting responsible gaming, and creating a conducive business environment that allows the industry to provide top-notch entertainment for adults across America.
With the industry's strong momentum and commitment to responsible growth, the U.S. commercial casino sector looks forward to a record-shattering year. The ongoing success calls for celebration as it continues to provide thrilling experiences for gaming enthusiasts across the country.
Despite ongoing worries about the well-being of American consumers' finances throughout 2022, the commercial casino gaming sector in the US generated record-breaking earnings for the second year in a row. Almost all of the 35 jurisdictions with commercial casinos or sports betting saw an increase. In the AGA's "State of the States" report on the gaming sector direct revenue paid to states increased to $13.49 billion. This did not even include the billions more paid in income, sales or other taxes.
Miller declared in the Q2 press release that “These results are a clear indication that our post-pandemic recovery wasn’t a fluke: the gaming sector continues to thrive and when we do well our communities do well.”