{"id":14932,"date":"2024-05-20T10:56:14","date_gmt":"2024-05-20T07:56:14","guid":{"rendered":"https:\/\/igamingafrika.com\/?p=14932"},"modified":"2024-05-20T10:56:14","modified_gmt":"2024-05-20T07:56:14","slug":"aga-reports-record-quarterly-us-revenue","status":"publish","type":"post","link":"https:\/\/igamingeuropa.com\/index.php\/2024\/05\/20\/aga-reports-record-quarterly-us-revenue\/","title":{"rendered":"AGA Reports Record Quarterly US Revenue!"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>The American Gaming Association (AGA) reported a quarterly commercial gaming revenue record of $17.7bn (\u00a314bn\/\u20ac16.3bn) in the US for Q1.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">March marked the 13th consecutive quarter of growth in US gaming revenue, according to the AGA\u2019s Commercial Gaming Revenue Tracker. The tracker provides state-by-state and cumulative insights into the US industry\u2019s performance, utilising state revenue reports.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Revenue in March alone was $6.1bn, the US industry\u2019s second highest grossing month ever.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Q1 saw 11 states set new quarterly revenue records for gaming. These included New York and Pennsylvania, two of the US\u2019 largest commercial gaming markets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read Also:<\/strong><a href=\"https:\/\/igamingafrika.com\/igaming-afrika-magazine-issue-2-out\/\" target=\"_blank\" rel=\"noreferrer noopener\"> iGaming AFRIKA Magazine: Issue 2 Out!<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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\u2019t include further contributions in income, sales or other taxes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/www.linkedin.com\/company\/american-gaming-association\/\" target=\"_blank\" rel=\"noreferrer noopener\">AGA<\/a><\/strong> president and chief executive <strong>Bill Miller<\/strong> believes 2024 will prove a crucial year for the US market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cWhile gaming\u2019s momentum remains strong, 2024 will be the new baseline for future growth after several years of sports betting legalisation and post-pandemic consumer shifts,\u201d<\/em> <strong>Miller<\/strong> said. <em>\u201cGaming\u2019s continued growth relies on maintaining our commitment to innovation and responsibility.\u201d<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">AGA attributes record igaming Q1 to\u00a0<strong>Rhode Island launch<\/strong>!<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Rhode Island became the\u00a0seventh US state to launch igaming\u00a0in March, with Bally\u2019s Corporation\u2019s online casino going live.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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\u2019s igaming launch.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">US retail and online gaming both grew in Q1, although the AGA noted this was at slower rates than in previous quarters.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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\u00a0North Carolina\u00a0and\u00a0Vermont\u00a0for that increase.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Miller<\/strong> said: <em>\u201cAs 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.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The American Gaming Association (AGA) reported a quarterly commercial gaming revenue record of $17.7bn (\u00a314bn\/\u20ac16.3bn) in the US for Q1. March marked the 13th consecutive quarter of growth in US gaming revenue, according to the AGA\u2019s Commercial Gaming Revenue Tracker. The tracker provides state-by-state and cumulative insights into the US industry\u2019s performance, utilising state revenue &hellip;<\/p>\n","protected":false},"author":3,"featured_media":14939,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,14],"tags":[628,91,647],"class_list":["post-14932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-gambling-news","category-press-release","tag-revenue","tag-sports-betting","tag-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AGA Reports Record Quarterly US Revenue!<\/title>\n<meta name=\"description\" content=\"The American Gaming Association (AGA) reported a quarterly commercial gaming revenue record of $17.7bn (\u00a314bn\/\u20ac16.3bn) in the US for Q1.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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