The U.S. Gaming Association (AGA) recently published its casino sector analysis for the third quarter of 2023, revealing remarkable figures: it was a period of unprecedented financial success. Overall commercial gaming proceeds reached an impressive $16.17 billion, representing a 6.1% surge in comparison to the corresponding timeframe last year. This accomplishment signifies the most lucrative third quarter in the chronicle of legalized U.S. wagering.
This exceptional showing positions Q3 2023 as the second most profitable quarter to date, trailing only the benchmark established in the first quarter of 2023.
Examining the particulars, each gaming segment witnessed expansion year-on-year. Slot machines, the industry mainstay, recorded a 1.7% revenue climb, totaling $8.98 billion. Table games, such as blackjack and roulette, experienced a 3.8% rise, attaining $2.64 billion. Sports wagering, the standout performer, surged by an exceptional 22.8%, reaching $2.15 billion. Internet-based gambling, encompassing diverse formats beyond sports betting, also thrived with a 26% leap to $1.52 billion.
Multiple elements contributed to this quarter’s sports betting surge. The introduction of new markets in Maryland (digital), Massachusetts, Nebraska, and Ohio generated fresh income streams that were absent in the previous year. Furthermore, 2023 is on track to be a landmark year for sports wagering as a whole. U.S. residents have already staked a remarkable $79 billion within the initial nine months, a 32.7% increase compared to the corresponding span last year. This impetus propelled both physical casinos and online gaming platforms to record-shattering quarterly earnings.
Bill Miller, the leader of the U.S. Gaming Association, remarked on the latest spike in gaming profits: “The expansion we’re witnessing in both digital and brick-and-mortar casinos is excellent news for the U.S. economy. It’s generating employment, producing substantial tax income that aids communities nationwide, and clearly demonstrates the widespread popularity of gaming among millions of Americans.”
He further stressed the significance of oversight: “A growing number of Americans are opting to wager legally through regulated sportsbooks. This pattern underscores the critical need for national and state officials to suppress illicit gambling activities. We must guarantee a secure and equitable gaming environment for all.”
admin