As set out in the AGA’s Commercial Gaming Revenue Tracker, gross gaming revenue (GGR) in Q2 was 8.8% up on the same period last year, while it also surpassed the previous record reported in Q4 of 2021 by 3.3%.
Some 22 of the 31 commercial gaming jurisdictions operating during the same period as last year experienced revenue increases, with nine of these states – Arkansas, Iowa, Maryland, Massachusetts, Nevada, New York, Oklahoma, Oregon and Pennsylvania – experiencing record quarters.
Land-based slot machines remained by far the main source of revenue for operators across the US, with GGR for the vertical reaching $8.70bn, a 0.2% increase on last year and a new quarterly record.
The AGA also noted that any lingering impact of novel coronavirus (Covid-19) measures on retail table games appears to have subsided, with GGR for this vertical jumping 18.2% to an all-time-high of $2.54bn.
Sports betting GGR also hiked 58.7% year-on-year to $1.42bn, driven by the launch of legal sports wagering in a further six states over the past 12 months.
In addition, GGR from igaming operations across the US climbed 34.3% to an all-time high of $1.21bn, narrowly beating the previous record set in the first quarter of this year. This, the AGA said, was the result of six new legal markets opening since Q2 last year.
“Q2’s results mark a 16-month period of gains for commercial gaming,” AGA president and chief executive Bill Miller said. “With increasingly difficult year-over-year comparisons, our strength through the first half of 2022 reflects sustained consumer demand for legal options as well as gaming’s record popularity.”
Looking at the first half, total GGR for the commercial gaming market reached $29.16bn, up 17.8% on last year, with the AGA saying that the industry is on track to set a new annual record for the second consecutive year.
Slots GGR for H1 climbed 8.7% year-on-year to $16.89bn and table games GGR increased by 28.9% to $4.91bn. Together, traditional casino gaming GGR was $23.67bn in the first half, 11.7% ahead of 2021.
Sports betting GGR for the six-month period was 63.9% higher at $3.04bn, while GGR from igaming jumped 43.5% to $2.42bn.
“While on pace to set an annual revenue record, we are cognizant of the continued impacts of inflation and labor challenges as well as marketplace concerns of potential recession,” Miller said.
“Our members have proven their agility and resilience over the last two years and are well-positioned to face these potential headwinds heading into the second half.”
The AGA’s Q2 commercial gaming revenue report comes after the National Indian Gaming Commission revealed all-time high revenue of $39.00bn in 2021. Combined with $53.00bn in commercial gaming revenue, 2021 beat the previous record set in 2019 by 13.0%.
“Tribal gaming demonstrated its responsible leadership throughout the pandemic and these record results reflect that commitment,” Miller said. “The full recovery and ongoing success of tribal casinos goes well beyond the casino floor to support vibrant communities across the country.”
Original article: https://igamingbusiness.com/finance/us-commercial-gaming-revenue-reaches-record-14-81bn-in-q2/
