With 2023 just around the corner, the American Gaming Association (AGA) has shared some highlights of the industry’s performance in 2022. Despite various setbacks, the industry delivered another record year, just as predicted in the first quarter.
The Industry Experienced a Second Record Year
The AGA released details of the gaming industry’s performance, highlighting spectacular achievements by commercial and tribal operators alike. Overall, the industry surpassed $100 billion in sales, beating the record set in 2021. These results were achieved despite global uncertainty and macroeconomic difficulties, AGA stressed. While some analysts are still cautious about the future, the association looks to 2023 with optimism and expects the industry to continue to thrive. In addition, the AGA noted that there are now 31 states + Washington DC where sports betting is legal. Five other states have legalized sports betting but have yet to open their markets.
Illegal Gambling Is Still a Problem
Unfortunately, the whole thing is no longer rosy for the enterprise, as unlawful playing is still a problem. According to the AGA, there are presently nearly 600,000 unlawful playing machines withinside the US. All of the illegal operations within the us of have an expected management of a whopping $510 billion, with sales at around $44.2 billion. In total, it’s been expected that the black marketplace reasons America to lose $13.three billion in ability taxes. However, enterprise and regulation enforcement are operating, challenging to crack down on unlawful businesses. US Attorney General Merrick Garland and the Department of Justice promised to give their all in the conflict towards the black marketplace while protecting clients from harm.
The AGA Was Very Proactive
Meanwhile, AGA continues to work hard to protect customers from harm. In 2022, the association expanded its Responsible Gaming Education Week initiative and Have A Game Plan. Bet Responsibly campaign. The AGA also investigated other aspects of the game. Industry and met with lawmakers more than 140 times in hopes of repealing the federal excise tax on sports betting. It has also made strides in the slot machine tax threshold.
One of the highlights of AGA’s activities in 2022 was hosting the G2E and G2E Asia events, where operators and suppliers could showcase their products. These industry shows were attended by over 25,000 industry professionals, 350 exhibitors, and some of the best—ranking executives from some of the biggest companies in the gaming space. Bill Miller, CEO of AGA, is optimistic about 2023 and hopes to “continue to tell the good story of gaming. He is confident that 2023 can be another incredible year for the industry.”