The US gaming industry continued its upward trend in August. Its gaming revenue increased 4.9 percent year-over-year. According to pay per head sportsbook reports, the combined revenue from traditional casino games, online gaming, and sports betting was more than $5 billion for the 12th straight month. Also, the total was $5.14 in August.
Early data from 2023 suggests the US gambling sector is on course to set yet another annual revenue record in 2023. Through August, the industry’s revenue had already reached $43.15 billion, up 10.4 percent from the previous year’s period.
Gaming revenue increased in 17 of 33 active commercial gaming jurisdictions from August 2022. Also, DC, FL, IN, IA, MO, and MS lagged in gaming revenue compared to last year.
US Gaming Industry Continued Its Upward Trend
Overall growth has been supported mainly by the continuing development and acceleration of online gaming. On the other hand, growth in land-based gaming has slowed to an average of 1.1 percent since March.
There was a small annual gain of 0.8% in August for land-based gaming income. It included everything from slot machines and table games to retail sports betting. Revenue from online gambling, however, grew by 24.6%.
Online sports betting in Maryland, Kansas, Ohio, and Massachusetts over the past year, combined with constant expansion in iGaming in the six states where it is legal, have significantly contributed to the industry’s ongoing rise in income. Thus, providers of online gambling solution for bookies are happy with the industry’s growth.
August saw a 1.1 percent rise in revenue for traditional casino slot machines and table games, totaling $4.06 billion. Slot machines alone brought in $2.95 billion, an increase of 1%, while table games provided $822.4 million, an increase of 1.7%.
According to sportsbook pay per head reports, the total earnings of $33.03 billion in August was 3.6% higher than last year. Also, they attributed the growth to the success of slot machines and table games at casinos. Nineteen out of 26 states with commercial gambling in 2022 had YTD revenue increases through August.
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