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US Commercial Gaming Income Saw a Significant Increase in July 2022

16 september 2022
Author: James Burton
Source: www.yogonet.com
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Based on the American Gaming Association's (AGA) Commercial Gaming Revenue Tracker, July was the third-highest earning month ever for business gaming in the US.

US gaming income: increase in July 2022

General Data

In July, gaming proceeds increased 2.8% yearly to $ 5.06 billion. Furthermore, this is the fourth time in the last 5 months that amusement income has exceeded $ 5 billion.

The CGRT from the AGA offers monthly and quarterly nationwide and regional data on the economic condition of the gaming sector in the USA. Income increased 8% in July compared to the previous month, led by an 8.6% rise in terrestrial entertainment, according to the institution's statistics.

Digital gambling and bookmaking both saw increases in proceeds of 1.2% and 7.9% correspondingly.

The sector is well positioned for a second straight record-setting year, according to the AGA, despite a challenging socioeconomic backdrop and ongoing doubts about the health of US consumer wallets. Through July 2022, profits from commercial gaming increased by 15.5% from the same time in 2021 to $ 34.27 billion.

Situation after Covid

The growth of regional entertainment income has slowed considerably since the late spring as a result of more challenging annual comparisons. However, this has not led to a sharp decline in gaming proceeds.

The industry has endured rising interest rates and inflation that are influencing distributor expenses. They do not yet seem to be significantly altering customer behaviour, based on the association's report.

The CGRT indicates that gaming proceeds grew in 21 of the 31 regions since July 2021.

Just 4 states are still behind in terms of income expansion after the first 7 months of 2022:

  • the District of Columbia (-27.8%);
  • Kansas (-0.7%);
  • Mississippi (-4.6%);
  • South Dakota (-3.2%).

According to the institution, the decline in mentioned states is mostly the result of comparisons that are harder than usual. In contrast to most other areas, COVID limitations were loosened early in 2021 in the 3 states.

Slot and Board Entertainment Usage

Machines and board games at terrestrial facilities generated $ 4.31 billion in earnings nationwide in July. Even though conventional amusement income was quite solid that month, it was still down 0.9% from the same period last year.

Table games turnover established a monthly high for the vertical at $ 966.7 million, an increase of 3.5% from July 2021, while slot sales brought $ 3.03 billion, down 1.4%.

Brick-and-mortar venues had produced $ 27.97 billion in income from slots and table games at the end of July, 9.5% more than during the same period in 2021. Through the first seven months of 2022, conventional gaming revenues increased annually in 21 out of 25 regions.

Land-Based Casino Statistics

US land-based casinos: statistics

According to traffic data, the terrestrial industry gained from the resumption of summer tourism in July. Las Vegas welcomed 3.5 million tourists, up 5.7% and the highest number since casinos reopened in June 2020.

Regional facilities' attendance increased 11.8% on average in:

  • Illinois;
  • Iowa;
  • Louisiana;
  • Mississippi;
  • Missouri.

In July, Illinois noted around 841,000 admissions, which is a record high for the epidemic period.

The introduction of business entertainment in Virginia also boosted proceeds from terrestrial gaming. When the temporary Hard Rock Bristol casino opened on July 8, it made the state the 26th market in the US and generated $ 15.1 million in its first month.

Bookmaker and iGaming Verticals

Sports betting income boosted in July. A gain of $ 359.6 million was recorded from terrestrial and internet bookie projects in 25 different states. This is a 34.5% increase from 2021 when there were only 20 active wagering jurisdictions. Sports betting income for the first seven months of 2022 is $ 3.45 billion, a remarkable 62.7% increase over the same period the previous year.

The joint income from 6 online gambling markets in July was $ 392.4 million, a gain of 28.3% from the same month last year. These are:

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

At $ 2.81 billion in July, iGaming income is up 41.1% over the same period in 2021.

Source: www.yogonet.com
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