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The American Gaming Association recently released its Commercial Gaming Revenue Tracker, which provides data on financial performance on both a state-by-state and nationwide scale, along with breakdowns for individual gaming verticals. The American Gaming Association (AGA) reports that the commercial gaming industry in the United States saw year-over-year growth of 2.4% in November.
The Industry Posted Record-Breaking Revenue in November
The gambling industry in Europe extended its streak of expansion into its 21st consecutive month in November. In November, the total amount of money won from casino games, online gambling, and sports betting added to $5.02 billion.
According to the findings of the AGA, the sector brought in a total of $54.93 billion in revenue over the first 11 months of 2022. The association emphasized that this equates to a growth of 13.5% yearly, which is higher than the record-breaking results achieved in 2021. As a point of reference, the gaming industry brought in a total of $53.04 billion in revenue throughout 2021.
Slots and Table Games Are Consistent Performers
On November, 21 of the 33 commercial gaming jurisdictions where gambling was legal a year ago reported YOY revenue growth, according to the AGA. This contributes to the overall expansion of gambling in the United States. Despite the generally positive trends, a few states experienced declines, including Nevada, where revenue fell 7.6% from November 2021 to November 2022. Despite increased Las Vegas visitation, this decrease was recorded.
When the AGA looked at a broader time frame, it discovered that the only states where gambling declined in the first eleven months of 2022 were Washington, DC, Mississippi, and South Dakota. DC’s sports betting market fell 14.7%, while Mississippi and South Dakota’s gambling markets fell 3.7% and 1%, respectively.
In terms of declines, the AGA reported that revenue from slots and table games fell 0.4% year on year in November. For comparison, slot machines generated $2.76 billion in revenue. Meanwhile, table game revenue fell to $771.9 million owing to poor performance in Nevada.
Despite a slight drop in November, slots and table games accounted for most of the revenue in the first eleven months of 2022, earning a total of $43.79 billion – a 6.7% year-on-year increase from 2021.
iGaming and Sports Betting Continue to Grow
Meanwhile, sports betting revenue has increased due to a busy schedule of professional sporting events and new jurisdictions launching sports betting and mobile sports betting. Betting activity in the United States increased by 27% due to this.
As a result, the industry set a new monthly record of $9.4 billion in November. Sportsbook hold fell from 9.8% to 7.9%, resulting in a 2.6% increase in betting revenue. Overall, the industry generated $743.8 million in revenue for the month and $6.56 billion for the year. The latter figure represents a remarkable 65.4% year-on-year increase.
The AGA also stated that iGaming operations in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia have continued to expand. The online gambling industry reported $458.4 million in revenue for November and $4.54 billion for the 11 months ending in November. This represents a 36.3% increase over the same period in 2021.
According to the AGA, sports betting and gaming accounted for nearly a quarter of November revenue (23.9%) and a fifth of year-to-date revenue (20.2%).
