The US commercial gaming sector experienced a robust 10% surge in revenue during August, as per a report from the American Gaming Association (AGA).
August 2023 surpassed the revenue generated in the same month the previous year, despite the total earnings dipping slightly below the $5 billion threshold. The AGA highlighted that the $4.89 billion revenue represented an unprecedented peak for August.
This achievement marks 18 consecutive months of year-on-year expansion for the industry, a trend that displays no indication of waning despite what the AGA characterized as a “difficult macroeconomic climate.”
Nevertheless, August’s revenue did reflect a 4% decrease compared to July’s figures, a trend the AGA deemed “in line with typical seasonal patterns.” With the exception of June and now August, every month this year has witnessed revenue reaching or exceeding the $5 billion mark.
Nevada, unsurprisingly, spearheaded the revenue generation in August with $1.2 billion. Trailing closely behind was New Jersey at $471 million, followed by Pennsylvania at $429 million.
The most substantial year-on-year gains were observed in Virginia, which registered a remarkable 185% surge. New Hampshire followed closely with 163% growth, and Oregon completed the top three with a 155% increase.
Out of the 31 US commercial gaming jurisdictions, only four states experienced year-on-year declines: Delaware, Massachusetts, Mississippi, and Montana.
Nationwide, land-based slot machines and table games collectively generated $4.02 billion, with slots contributing the majority share at $2.92 billion.
The AGA pointed out that while overall US tourism expenditures have decreased compared to August 2019 (pre-pandemic), “the growth trajectory for conventional gaming revenue reached its highest point since April.”
Local gambling establishments in the central United States – particularly those in Illinois, Iowa, Louisiana, Mississippi, and Missouri – are experiencing record attendance, exceeding pre-COVID numbers from 2019 by 4.2%.
The sector for wagering on athletic events is currently in its usual seasonal dip, with approximately $4.5 billion in bets placed during July. This number signifies the bottom point for the calendar year, although it still constitutes a substantial 50% increase compared to July of the previous year, 2022.
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