The American Gaming Association (AGA) has posted results on the commercial gambling industry’s performance in October, which showed it had its second-best month ever. The industry hit $5.29bn in revenue – which showed 10.5% year-on-year growth despite global macroeconomic concerns.
This also marked the 20th consecutive month of annual growth for the US gaming industry.
October’s commercial gaming revenue stood at $49.85bn, which is 14.7% ahead of the figure reached in the same prior-year period. Revenue from traditional casino games set a record at $4.03bn, while sports betting was up 77% from last October when only 24 markets were live (compared to 30+ now).
Together, sports betting and iGaming combined for $1.26bn in October revenue, composing nearly a quarter (23.8%) of total gaming revenue. This was primarily driven by a busy sports calendar with the onset of the NFL, NBA and NHL, which all kicked off in the fall.
September and October have seen the highest proportion of commercial gaming revenue be generated from these verticals since the peak of pandemic-driven casino closures, back in 2020.
AGA’s results further showed that 26 of 33 commercial gaming states that were operational one year ago had posted annual revenue growth in October.
Through the first 10 months of 2022, only three jurisdictions remained behind their gaming revenue pace compared to the same period in 2021: the District of Columbia, Mississippi and South Dakota.
Meanwhile, trailing 12-month (TTM) revenue, covering the past 12 consecutive months from November 2021 through October 2022, was $59.42bn. TTM revenue increased by around 1% sequentially, compared to the preceding TTM period (October 2021-September 2022) which reflected the industry’s continuing expansion.
