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US Gaming Industry Continues Smashing Revenue Records in Q3

The US gaming industry had its highest earning quarter to date in Q3 2022. That marks the second time this year that the business has broken its own revenue record and the future looks just as good, or better, for US-facing operators.

All told, US operators took in an astonishing $15.17 billion in revenue for the third quarter of 2022. That’s up two percent from the previous record of $14.81 billion in revenue that was set during Q2 of 2022, according to the American Gaming Association’s Commercial Gaming Revenue Tracker.

In fact, the US gaming industry’s year-on-year Q3 growth rate of almost nine percent outpaced the broader US economy’s growth of just 2.6 percent during that same time.

Much of the focus of the US gaming recently has been on sports betting, and that’s definitely a segment that’s seen significant growth. Q3’s $1.68 billion worth of sports betting revenue marked an 80 percent leap over Q3 2021. But the growth of regulated sports betting was just one factor in the industry’s big month.

According to the AGA, land-based slots and table games were the industry’s work horses bringing in $12.37 billion in Q3 alone. That’s up 1.8 percent from Q3 2021 and adds on to the $35.94 billion the games have already generated this year.

AGA President and CEO Bill Miller commented on gaming’s record-breaking quarter and year in a press release saying, “While business challenges remain, high consumer demand continues to fuel our industry’s record success. Our sustained momentum in the face of broader economic volatility points to gaming’s overall health today and provides confidence as we look to the future.”

It’s unclear how long gaming will be able to keep up its red-hot pace in the US business world, but the foreseeable future looks extremely good for US gaming operators.