Summary:
- A total of $66.52 billion was earned in 2023.
- The amount is a 10% increase from last year.
- The industry enjoyed single-quarter and single-month records.
The 2023 revenue totals are in, and the United States has experienced yet another record-setting year.
The American Gaming Association has released the data it compiled from last year to show that land-based casinos, sports betting, and online gaming have reached new heights, at $66.52 billion for the year. This was a 10% increase from 2022 and quite impressive due to inflation.
Closing out 2023 with a Bang
It’s interesting to note that the growth occurred when inflation was in full swing. While it is receding, costs are still higher than ever, with both gamers and casinos affected. The demand for gaming by adults is at an all-time high, according to the AGA president and CEO, Bill Miller, which resulted in the higher spending.
The gaming sector ended the year with both single-quarter and single-month records. In the fourth quarter, commercial gaming revenue jumped 9.5%, with $17.42 billion in earnings. In December, the sector brought in $6.22 billion in revenues, which was a more than 13% increase.
Casino slots, table games, sports betting, and online gaming set new revenue records for the year. Slots and table games jumped over 3% with $49.36 billion in earnings. Sports betting was up over 44% with $10.92 billion.
New Markets and Online Casino Gaming Compared to Land-Based Services
In 2023, we saw five new markets enter the sports betting sector. Kentucky, Maine, Massachusetts, Nebraska, and Ohio are now in the mix. These markets added over $1 billion in earnings to the US. At the close of the year, a total of 37 states, along with the District of Columbia, offer sports betting.
Online gaming continued to grow, even though there were no new markets in the mix. The six active states, minus the poker market of Nevada, brought in over $6 billion. This was a more than 22% increase from last year.
Even though online gaming continues to grow, the main focus of earnings is the land-based industry. In 2023, slots, table games, and retail sports betting brought in over $50 billion. This was over 75% of the gaming revenue in the US for the year. Online gaming brought in just over $16 billion, which is over 24% of the total revenue.
Operators in the commercial gaming sector paid over $14 billion in gaming taxes, which was almost 10% more than last—the fourth quarter helped to push the total up as commercial gaming providers paid over $3.7 billion.
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