US Gambling In July Tops $5.4 Billion In Winnings Reports AGA
Commercial gaming industry revenue reached $5.39 billion in July, according to state regulator data compiled by the American Gaming Association (AGA). The figure represents a new record for the month of July and a 5.9 percent increase year-over-year. However, the pace of annual revenue growth has continued to decline nearly every month since the start of the year. This deceleration is due in large part to more normalized post-pandemic annual comparisons which will persist going forward.
Casino slot machines and table games reaching a new all-time monthly record of $4.4 billion. This surge in revenue was propelled by seasonal travel trends and the addition of several new physical casino properties.
Through the end of July, combined revenue from casino slot machines and table games totaled $28.97 billion, a 3.6 percent increase over the same period last year, leaving the land-based casino industry well positioned for a third consecutive record revenue year.
At the state level, 21 out of 26 commercial gaming states that offered land-based casino slot machines and table games in 2022 posted year-to-date revenue growth in this segment through July.
Revenue from sports betting and iGaming continued to expand, with both verticals reporting their best July revenue levels ever.
Commercial land-based and online sportsbooks collectively generated revenue of $497.7 million across 27 jurisdictions, excluding Arizona, Illinois (had not reported July data at the time of publication) and Tennessee (no longer reports sports betting revenue). This marks an increase of 28.4 percent from July 2022, when commercial sports betting markets were active in 25 jurisdictions (excluding Tennessee for comparison purposes).
Through July, year-to-date commercial sports betting revenue reached $5.46 billion, exceeding the same period in the previous year by 63.1 percent.
Finally, combined iGaming revenue generated in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia grew 22.7 percent in July, reaching $481.5 million.
Notably, national iGaming revenue has declined by 9.9 percent from its peak in March. With four consecutive months of sequential contraction, this is the longest such pull back for the vertical since its expansion beyond New Jersey and Delaware in 2019. The spring and summer decline in iGaming revenue may be an emerging consumer trend for the vertical: a similar pattern was observed in 2022 when iGaming revenue contracted by 7.1 percent between March and July.
Year-to-date iGaming revenue stands at $3.45 billion, reflecting an increase of 22.6 percent compared to the same period in 2022.
