- Legal States
Velimir Velichkov March 16, 2023 2 min read
Commercial Gaming Revenue up by 21% In January, Says AGA
The commercial gaming revenue in the US continues increase and January marked the 23 month in a row with reported growth
The US gambling industry trade group, the American Gaming Association (AGA), announced Wednesday new data regarding the revenue reported by the commercial gambling sector in the country, acknowledging a strong start to the year. Judging by the new data, the US commercial gaming revenue, which includes iGaming, land-based and sports betting revenue hit $5.50 billion in January this year.
That result marked strong growth of 21.1% when compared to the total gross gaming revenue (GGR) reported for the same period in 2022. Moreover, the result this January further complements the growth observed in the last few years marking the 23rd consecutive month with a reported revenue increase.
The latest result comes after the AGA reported that 2022 was a record-setting for the commercial gaming industry. Without any doubt, the legalization and introduction of sports betting to new US states, combined with the expansion of some of the existing iGaming markets impacted positively the results. That positive impact will likely continue to be in effect throughout this year as well, keeping in mind the strong start recorded in January.
“According to revenue data reported by state regulators and compiled by the AGA, nationwide gaming industry win from traditional casino games, sports betting and iGaming reached $5.50 billion in January 2023,“explains a statement released by the AGA
Sports Betting, iGaming GGR Soars in January
A breakdown of the $5.50 billion in total GGR for the commercial gaming sector released by the Association reveals that the revenue growth was primarily driven by sports betting and iGaming. Sports betting GGR in January this year hit $1.02 billion. This result marked the first time sports betting GGR surpasses the billion-dollar figure. When compared to the result from January last year, the $1.02 billion in sports betting GGR marked an increase of 58.2%.
On the other hand, iGaming GGR soared in January as well, increasing to $482 million when compared to the same period in 2022. That result marked a significant increase of 20.6%, impacting the overall result for the month positively.
Although iGaming and sports betting revenue increased significantly, the land-based sector performed well too. Slot GGR for January jumped by 15.5%, hitting $2.86 billion in revenue. Without any doubt, this figure reaffirmed the strong market share of slots.
Last but not least, the revenue reported by commercial table games also marked an increase. In total, table game GGR hit $838 million in January, representing an increase of 14.7% when compared to the corresponding period a year ago.
William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.
Business March 16, 2023