The American Gaming Association (AGA) has reported that commercial gaming was off to the fastest start in history with revenue totaling $14.31 billion (€13.60 billion) during the first quarter.
According to the AGA, this sets a first-quarter record and nearly equals the all-time quarterly record set in Q4 2021 ($14.35 billion). The strong start to the year was marked by March revenue performance of $5.31 billion, the highest-grossing revenue month in industry history.
The president and CEO of AGA, Bill Miller, highlights that these results have been possible "despite continued headwinds from supply chain constraints, labor shortages, and the impact of soaring inflation."
The Commercial Games Revenue Tracker reveals the following results:
- Total commercial gaming revenue for Q1 2022 increased nearly 29 percent year-over-year.
- Nearly every (32 of 34) commercial gaming jurisdiction surpassed Q1 revenue from last year and three set quarterly records: Arkansas ($147.4M), Florida ($182.0M) and New York ($996.6M).
Sports betting and iGaming continued to experience tremendous growth, with both verticals setting all-time quarterly records, while land-based gaming showed quarterly growth amidst a traditional seasonal slowdown.
“Four years post-PASPA, legal sports betting’s success is proving what we’ve known all along: American consumers are eager to wager within the protections of the regulated market,” added Bill Miller.
Along the same lines, he assures that he also reaffirms the need to put an end to illegal operators that take advantage of vulnerable customers.
On the other hand, the newly released AGA State of the States annual report details the financial performance of the commercial gaming industry, including analyzes of each of the 34 jurisdictions with commercial gaming operations. during 2021, demonstrating the remarkable recovery of the industry
The aspects that we must highlight from this report are:
- 2021 set a new annual record for commercial gaming, reaching $53.03 billion—a 21.5 percent increase from the previous high in 2019.
- Commercial gaming operations generated a record $11.69 billion in direct gaming tax revenue paid to state and local governments—up 75 percent from 2020 and 15 percent from 2019. This does not include the billions more paid in income, sales or other taxes.
- The top 10 commercial gaming markets for 2021: (1) Las Vegas Strip, (2) Atlantic City, (3) Chicagoland, (4) Baltimore-Washington D.C., (5) Gulf Coast, (6) New York City, (7 ) Philadelphia, (8) Detroit, (9) St. Louis and (10) Boulder Strip.
To conclude, we share an important reflection from the CEO of AGA: “Our industry’s success goes beyond the bottom line and into communities across the country. The record state and local tax contributions fund vital services from infrastructure and education to healthcare and emergency services.”
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