Casino operators in the United States are breaking previous revenue records in the commercial gaming industry. The American Gaming Association (AGA) stated that its data shows that the country’s commercial gaming sector set a new record in Q3 2022.
No-tribal gaming in the country set another revenue record that exceeds the second quarter’s summit. Land-based casinos raked in a huge chunk of the third quarter’s revenue. Sports betting and online casinos also generated a large sum of money.
The Q3 2022 New Commercial Gambling Record
This year’s second quarter had a new record for non-tribal regulated gaming operators in the country. But, the July to September period cleared it fast.
The AGA states that the $15.17 billion revenue from gambling firms that they reported in the third quarter is 2 percent more than what they generated in the second quarter, $14.81 billion. Still, this was the quarterly record before the AGA compiled the third quarter’s revenue.
The $15.17 billion in the third quarter is a year-over-year improvement of about 8 percent. Yet, one might wonder what steered this rapid growth. Traditional slots, table games, and poker at land-based commercial casinos in the U.S. greatly contributed to the growth.
These games generated $12.27 billion, about 80.8 percent of the third quarter’s total revenue. Also, it is 1.8 percent more than the revenue they generated in the same period last year. The country’s commercial gaming sector had the best month in revenue generation in August 2022.
Other retail casino markets were created in the third quarter, including Virginia and Nebraska. A few commercials in Q3 2021 were facing the Coronavirus pandemic restrictions, which they didn’t have in Q3 2022. Brick-and-mortar casinos still operated and dominated the gaming sector as online casinos improved their past performance.
Online Casinos Almost Set a New Record
The AGA states that legal online poker and online casino revenue in this year’s third quarter was $1.21 billion. But, the figure is less than 1 percent of the record set in the second quarter. Online sports and in-person gambling almost set a new quarterly revenue record.
The Gaming Association added that legal bookmakers earned over $1.68 billion in the third quarter, being their new quarterly revenue record after having an 80.6 percent improvement from Q3 2021.
New market launches played a crucial role in this revenue growth. For instance, New York hadn’t legalized online bookmakers in Q3 2021. The high bookie revenue enabled 16 states that allow commercial gambling to set new quarterly records.
This has kept most of this year on the pace of being the best year for legal and commercial gambling operators in the country. The sports betting sector’s revenue between January and September 2022 almost exceeded the one it generated in 2021.
Online casino and physical casino revenue in this year’s first three quarters increased by 38.1 percent and 6.2 percent, respectively, compared to last year’s first nine months.
Even so, there isn’t an assurance that the fourth quarter will break the third quarter’s revenue record. Some gaming analysts are skeptical that Q4 2022 will generate less revenue.
100% up to $3,000 Bonus
Bovada is our most recommended ONLINE CASINO and POKER ROOM for US players with excellent deposit options. Get your 100% signup bonus today.
Leave a Reply
You must be logged in to post a comment.