Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

GlobalPress Release

AGA Reports Record Quarterly US Revenue!

The American Gaming Association (AGA) reported a quarterly commercial gaming revenue record of $17.7bn (£14bn/€16.3bn) in the US for Q1.

March marked the 13th consecutive quarter of growth in US gaming revenue, according to the AGA’s Commercial Gaming Revenue Tracker. The tracker provides state-by-state and cumulative insights into the US industry’s performance, utilising state revenue reports.

Revenue in March alone was $6.1bn, the US industry’s second highest grossing month ever.

Q1 saw 11 states set new quarterly revenue records for gaming. These included New York and Pennsylvania, two of the US’ largest commercial gaming markets.

Read Also: iGaming AFRIKA Magazine: Issue 2 Out!

A record $14.7bn was paid to state and local governments in tax contributions deriving from direct gaming tax revenue across 2023. This was up 9.7% from 2022 and doesn’t include further contributions in income, sales or other taxes.

AGA president and chief executive Bill Miller believes 2024 will prove a crucial year for the US market.

“While gaming’s momentum remains strong, 2024 will be the new baseline for future growth after several years of sports betting legalisation and post-pandemic consumer shifts,” Miller said. “Gaming’s continued growth relies on maintaining our commitment to innovation and responsibility.”

AGA attributes record igaming Q1 to Rhode Island launch!

Rhode Island became the seventh US state to launch igaming in March, with Bally’s Corporation’s online casino going live.

US igaming grossed a record $2bn in Q1, a 26.1% year-on-year increase. The AGA attributed the rise to the bolstering of the figures from Rhode Island’s igaming launch.

US retail and online gaming both grew in Q1, although the AGA noted this was at slower rates than in previous quarters.

Retail accounted for 70.7% of the total Q1 revenue with $12.3bn. This was an increase of only 0.3% year-on-year, with the AGA putting the stagnation down to adverse weather early in the quarter. Retail was responsible for 70.7% of total Q1 revenue. Online gaming, meanwhile, achieved its highest ever share of total revenue at 29.3%.

Americans bet a quarterly record of $36.9bn on sports over Q1, producing $3.3bn in quarterly revenue, a 22% year-on-year rise. Again, the AGA credited new market launches in the likes of North Carolina and Vermont for that increase.

Miller said: “As gaming expands, more communities than ever are benefitting. We are proud to create jobs across the country, provide world-class entertainment experiences that offer safe alternatives to the pervasive illegal gambling market and generate tax revenue to support critical public projects.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

You cannot copy content of this page

Adblock Detected

Please consider supporting us by disabling your ad blocker