AGA: US commercial revenue surpasses annual record with month to spare
Revenue hit $54.9bn in November, overtaking the previous all-time high of $53.04bn.
The American Gaming Association (AGA) has released its Commercial Gaming Revenue Tracker for 2022 using data made available to the association at the end of November of last year. It showed that commercial gaming revenue surpassed the annual record of $53.04bn, and hit $54.9bn – a 13.5% annual increase.
Despite macroeconomic concerns throughout the year, November 2022 marked the 21st consecutive month that showed a year-over-year increase. The industry hit $5bn in total revenue for the month, up 2.4% from the same period last year.
Other notable highlights showed that revenue from traditional casino gaming was down $3.8bn, a slight decrease of 0.4% year-over-year.
A standout among the land-based declines was in Nevada, where monthly gaming revenue dipped 7.6% from last November, driving the slowdown in nationwide revenue overall.
Land-based revenue decreased in the Silver State even as Las Vegas visitation increased 4.9% year-over-year. This increase in foot traffic was supported by a variety of events and a 45.4% bump in convention attendance, according to the Las Vegas Convention and Visitors Authority.
Sports betting fared far better, generating a November revenue of $743.8m in 27 live commercial markets, which was up 2.6% from November 2021 when 25 markets were live.
Sports betting activity benefited from a busy sports calendar and Maryland’s induction as the 23rd jurisdiction to offer mobile sports betting, which resulted in a 27% increase in betting activity nationwide.
The US iGaming industry also saw a 33% rise in revenue to $458.4m, which is made all the more impressive as it was only operational in six states – Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia.
A combined 23.9% of all commercial gaming revenue came from iGaming and sports betting in November, compared to 24.5% in October and 20.2% for the entire year.
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