AGA: Commercial Gaming Retains Momentum in May 2023

The results indicated an overall growth in total gross gaming revenue over the period. In the month of May, the industry collected a total of $5.49 billion or a 6.4% year-over-year gain. There were significant gains across two out of four verticals, with the only segment to see a 4.8% contraction – table game gross gaming revenue. The latest report indicates that the industry is retaining its momentum.

Results Continue to Improve on Annual Basis

Sports betting gross gaming revenue reached $864.1 million, or a 41.5% gain from last year. iGaming GGR also surged during the month of May with a 22.4% increase to $498.4 million. Slot GGR stood fairly unchanged, and just shy of the three-billion mark at $2.98 billion or up 1.3% on an annual basis.

In terms of the revenue accumulated between January and May, the total gross gaming revenue stood at $27.59 billion or a 12.4% gain on an annual basis. Looking at individual verticals, all four surged and posted positive results. Even table game gross gaming revenue was up by 1.9% on an annual basis and in terms of gross gaming revenue.

Slot GGR reached $14.80 billion or an increase of 5.1%. Sports betting gross gaming revenue hit $4.58 billion over the first four-five months of the year. Table game revenue wasn’t too far behind and stood at $4.11 billion or up 1.9%. Then, there was iGaming gross gaming revenue which hit $2.48 billion, gaining 22.3% in the process.

According to the American Gaming Association, these results are no longer impacted by COVID-19 and recovery has now been completed, with the industry set to pursue further growth opportunities. Of course, there were contributing factors to this growth, and this mostly had to do with the expansion of online gambling.

Small Decline Due to Slowdown in Traditional Gaming

Four states went live with their sports betting products, including Kansas, Maryland, Massachusetts, and Ohio. Admittedly, land-based gaming did slow down a little as the pandemic did change the industry paradigm a little. Overall, 24 out of 33 commercial gaming jurisdictions posted gains on the May 2022 results.

Nine states, though, among which were Delaware, Florida, Iowa, Louisiana, Missouri, Indiana, Oregon, and Nevada reported small declines, mostly due to contractions in the traditional gaming segment.