The American Gaming Association (AGA) has published its third-quarter 2023 results compiled by its Commercial Gaming Revenue Tracker. The organization said the US commercial gaming industry had its best Q3 to date.
Revenue for the market reached $16.17bn, reflecting a 6.1% boost year-over-year. According to the AGA’s report, the market has grown for 11 straight quarters.
AGA President and CEO Bill Miller attributed the boom to the expansion of both land-based and online US gambling markets.
He elaborated further by saying, “With growth across land-based and online gaming, we are delivering career opportunities for millions of Americans and strong economic contributions to communities across the country through increased tax revenue.
“Our sustained momentum reflects gaming as a first-choice entertainment option for millions of American adults.”
This year’s third quarter also grabbed second spot for the highest-grossing commercial gaming quarter. The top-earning quarter of all time was this year’s first quarter.
Online and in-person sports betting during the quarter generated $2.15bn in revenue during the third quarter, a 22.8% increase when compared to last year’s corresponding quarter.
Revenue from slots and table games in Q3 raked in a combined revenue total of $12.49bn, rising 1.8% year-over-year. Revenue from iGaming in Q3 grew by 26% to reach $1.52bn.
During the third quarter, state and local governments collected $3.43bn in taxes, up by 4.7% when compared to last year’s third-quarter taxes.
Miller briefly discussed the importance of having federal and state safeguards in place to protect players.
He said in closing, “Americans continue to migrate their action to the protections of legal, regulated sportsbooks in record numbers. This sustained demand only reinforces the need for federal and state enforcement against illegal, offshore operators.”
