The American Gaming Association (AGA) is reporting that May 2022 was the US gaming industry’s second most profitable month, ever. That’s good news for an industry that’s been battered by Covid and buoyed by regulated sports betting in a roller coaster of a decade.
For the month, the collective US gaming industry chalked up $5.1 billion in revenue over the course of that single month. That makes it the second highest month in the US gaming history and the most-profitable May ever recorded.
As is normally the case in the United States, land-based slot machines accounted for the bulk of the industry’s profits. Slot action alone pulled in an astonishing $4.13 billion worth of revenue, according the AGA’s Commercial Gaming Revenue Tracker.
All told, the US gaming industry’s revenue was up 9.5 percent over May 2021. That number sounds good until one realizes that that’s the softest monthly growth the US has seen since February 2021.
But record-breaking revenue is increasingly becoming the hallmark of the US gaming business, which is currently experiencing land-rush growth. Consider this, the industry’s highest grossing months ever were March, April and May, of this year.
US gaming is light years away from the dark days of casino closures and social distancing and is seemingly pandemic-proof these days. “While challenges like supply chain issues, labor shortages and inflation persist, commercial gaming remains on track for another potential record-setting year with revenue in the first five months reaching $24.47 billion, up 21.0 percent from the same period in 2021.” the AGA boasted on its website.
Not surprisingly, 2022 is on track to be the most profitable year in US gaming history.