The American Gaming Association (AGA) has published its Q2 2023 Commercial Gaming Revenue Tracker, reporting Q2 record of $16.07 billion. This represents an 8.1% year-on-year increase and marks the 10th quarter of annual growth in a row.
Q2 2023 is also the second-highest grossing quarter in the history of commercial gaming in America, only surpassed by Q1 2023, which is the industry’s best quarter yet. As a result, the total H1 2023 revenue is a whopping $32.71 billion, making the period the strongest half-year for the commercial gambling industry in the States.
The AGA also noted that the first six months of the year have resulted in an estimated $7.28 billion in direct gaming tax revenue, received by states and local governments. This represents a 12.9% year-on-year increase and sets the industry on track to generating more annual gaming tax revenue than ever before.
In total, 23 of the 34 US jurisdictions with a form of legal gaming experienced YOY revenue growth in Q2 2023.
Digital Gaming Made These Numbers Possible
The AGA report noted that land-based gaming is still responsible the larger part of the commercial revenue. However, the spectacular growth is attributable to the fast expansion of online sports wagering and iGaming, the association added.
Q2 revenue from land-based casino operations sat at $12.38 billion, representing a modest YOY increase of 0.9%. Online casino gaming, meanwhile, generated $1.48 billion in revenue.
Online gaming as a whole, on the other hand, skyrocketed by 43.1%, to $3.68 billion in Q2 2023. The AGA noted that the growth can be attributed to the recent launch of online sports betting in Kansas, Maryland, Massachusetts and Ohio.
The commercial sports betting industry (both retail and online) posted total revenue of $2.3 billion. The figure translates into an increase of 56.6% and marks the strongest quarter for sports wagering in the United States.
AGA’s president and CEO Bill Miller said that the growth of gaming continues to have a positive impact on communities thanks to the industry’s tax contributions. He said that the results clearly show that the post-pandemic recovery wasn’t merely a fluke.
To sustain this momentum, the AGA will continue enlisting more allies in our fight against the illegal market, bolstering responsible gaming, and building a business environment that allows our innovative industry to bring world-class entertainment to adults across America.
Bill Miller, president & CEO, AGA
Earlier this month, the AGA announced its 2023 Hall of Fame honorees.