US – US Commercial Gaming hits best ever quarter with GGR of $15.17bnBy Phil - 10 November 2022
US commercial gaming revenue reached a quarterly record of $15.17bn in Q3 2022, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. The all-time high beats the previous record, $14.81bn in Q2 2022, by two per cent.
Through the first nine months of the year, 2022 is on pace to surpass 2021 as the highest-grossing commercial gaming revenue year ever, tracking 14.7 per cent ahead of the same period last year and already surpassing full-year revenue for 2019.
“While business challenges remain, high consumer demand continues to fuel our industry’s record success,” said AGA President and CEO Bill Miller. “Our sustained momentum in the face of broader economic volatility points to gaming’s overall health today and provides confidence as we look to the future.”
Commercial gaming’s year-over-year growth rate in Q3 2022 of 8.8 per cent outperformed the broader U.S. economy’s growth rate in Q3 2022 of 2.6 per cent.
Land-based slots and table games continue to be the foundation for the industry’s revenue growth, generating a record $12.27bn in Q3 2022—up 1.8 per cent from Q3 2021. Combined year-to-date revenue for the verticals stands at $35.94bn, up 8.1 per cent year-over-year.
Due to a high sportsbook win percentage and solid growth in existing markets, sports betting also set a new quarterly revenue record of $1.68bn, up 80.6 percent year-over-year. Sports betting revenue through September has already reached an all-time annual high of $4.78bn, beating 2021’s full-year record of $4.34bn.
iGaming revenue of $1.21bn fell less than one percent short of a new quarterly record. With $3.62bn generated in iGaming revenue through September, the vertical remains on pace to join slots, table games and sports betting in posting record revenue in 2022.
Out of 33 commercial gaming states that were operational one year ago, 16 reported quarterly highs in overall commercial gaming revenue in Q3 2022, including five of the six largest markets: Indiana, Michigan, Nevada, New York and Pennsylvania.