AGA reports strong-performing quarter with 18% annual revenue increase
Results were buoyed by a 58.7% year-on-year rise in sports betting revenue.
The American Gaming Association (AGA) has reported $14.8bn in gambling revenue for Q2 of this year, which sets a record for the industry’s all-time highest quarter. It has set 2022 on pace to post another annual record for commercial gaming revenue, for a second consecutive year.
A total of $29.16bn in revenue has been generated through the first half of the year, which is nearly an 18% year-over-year increase.
AGA CEO and President Bill Miller commented: “Q2’s results mark 16 months of gains for commercial gaming. With increasingly difficult year-over-year comparisons, our strength through the first half of 2022 reflects sustained consumer demand as well as gaming’s record popularity.”
Traditional casino gaming achieved quarterly revenue records. Table games in particular put in a strong performance with an 18.2% rise. In the first six months of the year, retail casino gaming generated $23.67bn in revenue, 11.7% ahead of the prior year’s first half results.
Sports betting shot up 58.7% from Q2 2021, buoyed by six new state market launches over the last year. The $3.04 billion in sports betting revenue in H1 of 2022 is a 63.9% year-over-year increase.
Meanwhile, the six operational US iGaming markets generated $1.21bn in Q2 2022, narrowly beating the vertical’s previous record set in 2022’s first quarter. Propelled by the addition of one market, the $2.42bn in commercial iGaming revenue generated through June is a 43.5% jump over the same period in 2021 – the vertical’s highest-grossing year.
Of the 31 commercial gaming jurisdictions operating in 2021, 22 experienced revenue increases in Q2 2022. Nine states reported all-time quarterly highs: Arkansas, Iowa, Maryland, Massachusetts, Nevada, New York, Oklahoma, Oregon and Pennsylvania.
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