US Gaming Sector Reaches New Heights in 2023

The US gaming sector is thriving, as evidenced by the American Gaming Association’s (AGA) recently published Q1 2023 report. Across the nation, Americans are participating in gaming at unprecedented levels.

The initial three months of 2023 witnessed an impressive $16.47 billion in earnings, a surge of nearly 15% compared to the corresponding timeframe last year. This signifies the eighth consecutive quarter of unparalleled expansion, with March alone generating a substantial $5.9 billion.

Nevada, consistently a dominant force in the gaming realm, spearheaded the growth with $13.2 billion in earnings for March, as per the Nevada Gaming Control Board. Close to twenty other commercial gaming jurisdictions also commemorated fresh revenue milestones.

Internet gaming maintains its rapid ascent, currently representing almost 25% of total gaming earnings. This encompasses an astounding $15 billion produced by iGaming solely.

Sports wagering also reached new pinnacles, propelled by the introduction of lawful sportsbooks in numerous emerging markets. US citizens wagered an unparalleled $31.1 billion, yielding $2.7 billion in earnings, a 64% leap from the previous year.

Despite the enthusiasm surrounding online and sports wagering, conventional casino offerings persist in popularity. Physical slot machines and table games yielded a robust $12.3 billion.

Bill Miller, the AGA’s President and CEO, encapsulated it aptly: “Following two years of pandemic-induced obstacles, the US gaming sector has attained unprecedented strength.”

The U.S. gaming sector is booming, reaching unprecedented heights, from physical casinos to games on phones. It’s evident that grown-ups are progressively opting for gaming as a primary leisure activity. A new “State of the States” analysis from the American Gaming Association found that commercial gaming income reached an astounding $60.4 billion in 2022, handily beating the prior high of $53 billion established in 2021. And it’s not just the sector reaping the rewards; commercial gaming companies provided a hefty $13.5 billion in direct taxes to state and municipal coffers, in addition to standard income and sales levies. “Prospering gaming sectors equate to flourishing communities,” remarked a sector spokesperson, stressing that “gaming is a top taxpayer in each state where it is permitted.” He continued, “Beyond the substantial tax payments, our industry is firmly embedded in local communities. We fuel economic expansion by generating employment, backing local charities and non-profits, and establishing a high standard for corporate citizenship.”