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New Revenue Records for the Gambling Industry in the US

18 july 2022
Author: James Burton
Source: www.yogonet.com
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The American Gaming Association (AGA) demonstrates that this spring was the most prosperous in the history of the gambling sector. Revenues from each commercial entertainment branch reached $ 5 billion, despite macroeconomic issues and more difficult conditions in comparison to the previous year.

Gambling revenue in the USA: new records

Market Situation

Commercial gaming proceeds have reached roughly $ 24.4 billion in the first five months, up 20.6% from the same time in 2021, keeping the industry on course for another possible record year.

May 2022 saw $ 5.03 billion in in-game earnings for land-based and online casinos, and wagering firms combined. This was the month’s record and the second-largest period in history.

Total revenue remained unchanged:

  • land-based games grew by 1.5%;
  • sports bookmakers fell by 7.7%;
  • online gambling platforms dropped by 2.4%.

However, profits increased by 7.9% compared to the previous year.

Income per Jurisdiction

Proceeds rose from May 2021 in 18 of the 31 regions with real money gambling that were active last year.

Only 4 districts are behind in gaming income as of the first 5 months of 2022:

  • Columbia — -21,2%;
  • Kanzas — -0,8%;
  • Mississippi — -2,5%;
  • South Dakota — -1,9%.

The decline in these jurisdictions is mostly attributable to Covid's more stringent restrictions. In comparison to the majority of other playable counties, these states were eliminated early in 2021.

Proceeds per Vertical

May became the third-highest profit month in history thanks to land-based slots and table games, which brought in $ 4.13 billion nationwide.

Board entertainment sales increased by 10.5% to over $ 874 million from the year comparisons, while slot machine sales were flat at -0.1% from the same period in 2021.

The year-to-date income from «one-armed bandits» and table games at terrestrial casinos was $ 19.70 billion. During the first 5 months of 2022, traditional entertainment proceeds increased significantly in 22 of the 25 states.

Terrestrial and virtual betting companies generated $ 487.5 million in sales in May across 26 areas. When opposed to today's 30 states and the District of Columbia, there were 20 jurisdictions with commercial sports wagering markets in operation in 2021. The sector reached $ 2.64 billion in the first 5 months of 2022, a 73.5% rise from the same time last year.

Overall Situation

Gambling in the USA: overall situation

In the last month of spring, proceeds from iGaming exceeded the $ 406 million mark in a total of such jurisdictions:

  • Connecticut;
  • Delaware;
  • Michigan;
  • New Jersey;
  • Pennsylvania;
  • West Virginia.

Year-to-date iGaming earnings were $ 2.03 billion, a 45.6% boost over the same period in 2021.

Even in the face of enduring problems like inflation, labour shortages, and supply chain issues, the US gaming sector continues to show positive trends. The expansion of illicit gambling has recently raised concerns for the legal sector as well, particularly in the online vertical. However, the AGA and its partners have already called for authorities to take more action.

Source: www.yogonet.com
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