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Angel Hristov May 16, 2023 3 min read
AGA: US Gaming Set New Records in Q1 2023
American adults continue to choose gaming as one of their top entertainment options, CEO Bill Miller said
The American Gaming Association (AGA) has published its quarterly Commercial Gaming Revenue Tracker report, highlighting the performance of the US gaming market. According to the association, another quarterly record was set.
In the first three months of 2023, the US gaming industry recorded a quarterly record of $16.6 billion in revenue. This marks the industry’s eighth straight record-breaking quarter and highlights the possibility of another record year. The AGA noted that March was the best month in terms of revenue, contributing $5.9 billion to the grand total.
The AGA noted that 18 of the 35 jurisdictions where commercial gambling is legal set new quarterly revenues in Q1 2023, with Mississippi being the only state to record a year-on-year decline.
Retail gaming still led the way, accounting for over 75% of the total revenue. Online gambling, on the other hand, represented its largest quarterly share ever, accounting for almost 25% of the quarterly revenue in the US.
Traditional gaming, the AGA reported, generated quarterly revenue of $12.3 billion. Sports betting, on the other hand, earned a quarterly revenue of $2.79 billion after recording a record-breaking $31.11 billion in sports betting handle. iGaming grossed $1.48 billion, marking an impressive 22.7% YOY increase.
Bill Miller, president and CEO of the AGA, commented on the matter, saying that US gaming is stronger than ever.
With records across every gaming vertical—from brick-and-mortar casinos to mobile gaming—American adults continue to choose gaming as one of their top entertainment options.Bill Miller, president & CEO, AGA
AGA Also Published Its Annual State of the States Report
Meanwhile, the AGA released its annual State of the States report. According to the association, in 2022, commercial gaming in the US generated $13.48 billion in direct gaming tax revenue, fueling states and local governments with extra money. The figure represents a 15.3% increase from 2021, the AGA noted.
Miller addressed these results, noting that the gaming industry is one of the biggest taxpayers in the United States, attesting to the success of the industry. He said that when gaming is successful, so are its communities.
Beyond our significant tax contributions, our industry is engrained in local communities, bolstering economic development through job creation, supporting local charities and nonprofits, and setting the standard on corporate responsibility.Bill Miller, president & CEO, AGA
However, despite the record-breaking results, many gaming executives remain cautious about the future. Experts have predicted that the overall momentum may come to a halt, although they remain optimistic about certain products and verticals.
Angel has a passion for all forms of writing, be it fiction or nonfiction. His curious nature gives him an ace up his sleeve when researching a new topic. Angel’s thirst for knowledge, paired with adaptability, always helps him find his way around.