“New AGA Report Reveals CGRT Outlook 2023”

On May 16, the American Gaming Association (AGA) released its State of the States 2023 report, which provides a comprehensive analysis of the US commercial gaming industry’s performance in 2022 for policymakers, gaming stakeholders, and industry observers. The report reveals that the industry hit a quarterly record of $16.60 billion in Q1 2023, the eighth consecutive quarter that broke industry records, according to the Commercial Gaming Revenue Tracker. Furthermore, March was the industry’s highest-grossing month, with $5.90 billion.

The AGA’s Commercial Gaming Revenue Tracker analyzes the financial performance of the US commercial gaming industry based on state profit reports. The Q1 2023 release covers thirty-four states and the District of Columbia, with operating commercial gaming markets, including casino gaming, sports wagering, and iGaming.

Based on the report, 18 out of 35 commercial gaming markets posted new profit records in Q1 2023, with only Mississippi maintaining its Q1 2022 quarterly profit. The report shows that retail gaming generated 75.3% of total income, whereas online gaming had the highest share ever, 24.7%. In terms of each division, traditional brick-and-mortar casino gaming generated quarterly income of $12.30 billion, topping the previous high of $12.26 billion in Q3 2022. Legal sports betting accounted for $2.79 billion in quarterly income, with Americans spending a record $31.11 billion on sports in Q1 2023. iGaming earned $1.48 billion in Q1 2023, a 22.7% YoY profit increase.

In his statement, AGA President and CEO, Bill Miller, said, “American adults continue to choose gaming as one of their top entertainment options.” The State of the States report, created with VIXIO GamblingCompliance, offers insights on the financial performance of the commercial gaming industry, including legalities, number of casinos by state, gaming policy discussions, and opportunities and challenges for the industry. Additionally, the report states that commercial gaming generated a record $13.48 billion in direct gaming tax income paid to state and local governments in 2022, up 15.3% from 2021. According to Miller, the gaming industry supports job creation, local charities, and nonprofits, and sets corporate responsibility standards.