The American Gaming Association published its Commercial Gaming Revenue Tracker, featuring state-by-state and nationwide financial performance data with breakdowns for individual gaming verticals. According to the AGA, the US commercial gaming industry experienced a 2.4% year-on-year growth in November.
The Industry Posted Record-Breaking Revenue in November
November was the 21st month of consecutive growth for the gambling industry in Europe. Nationwide gaming win from casino games, sports betting and iGaming stood at $5.02 billion in November.
As reported by the AGA, the industry recorded a total of $54.93 billion in revenue throughout the first 11 months of 2022. This, the association emphasized, represents a 13.5% YOY growth, surpassing 2021’s record-breaking results. For reference, the gaming industry earned a total of $53.04 billion for the entirety of 2021.
Slots and Table Games Are Consistent Performers
The AGA also noted that 21 of the 33 commercial gaming jurisdictions where gambling was legal a year ago, reported YOY revenue growth in November. This furthers the overall growth of gambling in the United States. Despite the largely favorable trends, a few states experienced declines, including Nevada where revenue dipped 7.6% from November 2021. This decrease was recorded in spite of increased Las Vegas visitation.
When examining a broader time frame, the AGA noticed that the only states where gambling declined in the first eleven months of 2022 were Washington DC, Mississippi and South Dakota. DC’s sports betting market plummeted by 14.7%, while Mississippi and South Dakota’s gambling markets experienced dips of 3.7% and 1% respectively.
Speaking about declines, the AGA reported that in November, revenues from slots and table games declined by 0.4% YOY. For reference, slot machines yielded revenue of $2.76 billion. Meanwhile, table game revenue declined to $771.9 million, driven by suboptimal results in Nevada.
Despite the slight decline in November, slots and table games were responsible for the larger part of the revenue for the first eleven months of 2022, earning a total of $43.79 billion – a 6.7% YOY increase from 2021.
iGaming and Sports Betting Continue to Grow
Meanwhile, sports betting revenue continued to increase thanks to the busy schedule of pro sporting events and the new jurisdictions launching sports betting and mobile sports betting. Thanks to this, wagering activity in the United States increased by 27%.
As a result, the industry recorded a record-breaking handle of $9.4 billion in November. Sportsbook hold declined from 9.8% to 7.9%, leading to a slight betting revenue increase of 2.6%. Overall, the industry posted revenue of $743.8 million for the month and $6.56 billion for the year. The latter figure represents a stellar 65.4% YOY increase.
The AGA also mentioned that iGaming operations continued to grow in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia. The online gambling industry reported revenue of $458.4 million for the month and $4.54 billion for the 11-month period ended in November. This marks a 36.3% increase from the same period in 2021.
The AGA concluded that sports betting and iGaming collectively accounted for almost a quarter of November’s revenue (23.9%) and a fifth of the year-to-date revenue (20.2%).