AGA: US Gambling Revenues Keep Climbing for 10th Quarter in a Row

The US gambling industry is showing no signs of slowing down: according to the latest report by the American Gaming Association (AGA), the second quarter of 2023 saw a record-breaking $16.07 billion in revenue from commercial gaming — the 10th consecutive quarter of growth.

This represents a staggering 8.1% increase from the same period last year, and the second-highest quarterly figure ever recorded (only behind the first quarter of this year).

The impressive performance of the industry in the first half of 2023, with a total revenue of up to $32.71 billion, also boosted the state tax revenues by 11.9% compared to the first half of 2022. If this trend continues, the gambling sector will contribute more to the public coffers than ever before by the end of the year.

While land-based casinos and other physical venues still account for the lion’s share of the revenue (over 75% of the $16.07 billion), the online gambling market was the main driver of the growth in Q2 2023 compared to 2022.

Revenues from iGaming and online sports betting soared by 43.1%, while traditional gaming venues only grew by 0.9%.

One notable difference between Q2 and Q1 of 2023 was the decline in sports betting revenues, which was mainly due to a less eventful sports calendar in the second quarter.