US Gaming Industry Proceeds Set a Record at the Beginning of 2022

19 may 2022
Author: James Burton
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The American Gaming Association (AGA) reported new attainment in revenue from money entertainment in the United States.

AGA: record quarterly revenue

In the first quarter of 2022, the profit from commercial games amounted to $ 14.31billion. The new reach is almost catching up with the record set in the last three months of 2021, which amounted to $ 14.35bn.

The rise in average income from gaming resulted in almost every gambling company outperforming those in the first period of 2021. Thus, the average proceeds for the first three months of 2022 rose by almost a third (29%).

It was March that became the starting point with the highest yield in the whole story of the gaming industry. Profit for March 2022 was $ 5.31 billion.

Profit Expansion in the US Gambling Industry

AGA’s president Bill Miller notes that despite the existing obstacles, namely restrictions in the supply chain, workforce reduction and average price increasing, consumers show a high demand for recreation variations in gaming.

The land-based gambling industry also shows dramatic profit increase, even with a common «seasonal slowdown». Thus, the first period of 2022 provides a considerable increase of 19.4% in slots, in comparison with the first quarter of 2021. Board industry profits rose simultaneously by 4.72%, iGaming rose by 53.9%, and the biggest increase was seen in sports betting (64.6%).

Miller says their claims turned out to be true, and Americans are willing to bet on sports in a government-regulated market. He also adds about the existing need to exterminate illicit providers in offshores.

Government Profits from Gambling

All of this is due to the report «State of the States 2022', that examines the growth of the field after the pandemic of 2021 and covers both economic and regulatory expansion in the US gambling field.

«State of the States 2022» points to an annual gaming achievement of $ 53bn and an apparent 21.5% outgrowth over 2019. The industry has established $ 11.7bn in proceeds for national interests, up 75% from explicit earnings of 2020.

Miller claims that the gaming taxes are paid to fund public structures across the country.

Las Vegas Strip remains the industry leader with annual income of $ 7 billion.

The leading companies behind are:

  • Atlantic City;
  • Chicagoland;
  • Baltimore Washington.
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