The US commercial gaming industry experienced its best-ever third quarter in 2023, raking in a record-breaking $16.17 billion. This marks a 6.1% increase compared to the previous year and represents the industry’s 11th consecutive quarter of yearly profit growth, as reported by the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. The third quarter of 2023 also stands as the second-highest grossing quarter for commercial gaming, following behind the first quarter of the same year.
In a press release, Bill Miller, AGA President and CEO, highlighted the growth seen in both land-based and online gaming, noting the positive economic contributions and career opportunities they bring to communities across the country. With the industry set to experience its 3rd consecutive record year, the US gaming industry is projected to advance by 9.9% from September of the previous year.
State and local governments have also seen an inflow of direct taxes from games of chance, with commercial gaming firms contributing approximately $3.43 billion in gaming-related taxes during the third quarter of 2023, a 4.7% increase over the previous year. Furthermore, every vertical within the industry experienced a year-on-year increase in income, with online gaming and land-based casinos reaching all-time quarterly highs.
Income from table games and traditional slot machines amounted to $12.49 billion for the third quarter, while online gaming generated $1.52 billion, representing a 26% increase over the previous year. Additionally, online sports wagering and in-person wagering saw combined incomes of $2.15 billion, marking a 22.8% growth from the previous year.
This growth was positively impacted by the introduction of operational regulated markets of commercial gaming in 35 states and the District of Columbia, offering sports wagering, legal casino gaming, and online gaming. With Americans betting $79 billion in the first 9 months of 2023, a 32.7% growth from 2022, the industry is positioned for another record year.
The AGA’s Commercial Gaming Revenue Tracker provides detailed financial insights into the US commercial gaming industry by state, with monthly updates available on their website. Additionally, the AGA’s State of Play Map showcases the economic impact of gaming, casino locations, and industry regulation on a state-by-state basis for tribal gaming and commercial divisions.
