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US Hits $66.3 Billion Revenue Record in 2023

Life continues to be good for the American commercial gaming industry as the industry celebrates its third consecutive year of record-breaking revenue. According to the latest numbers released by the American Gaming Association, US-facing operators hauled in an astonishing $66.3 billion in revenue in 2023 between land-based and internet-based play.

Thanks to a boom in regulated gambling, mainly sports betting, the American sector of the gambling business shattered a number of business records, starting with that big $66.3 billion revenue haul. That number is just about 10 percent up from 2022’s record haul of $60.5 billion – but the superlatives don’t stop there. 2023 also included the all-time high quarterly revenue of $17.4 billion, which came in Q4. It also included the all-time revenue record for a single month in December, when the industry brought in $17.4 billion.

The big story in the US continues to be the rise of regulated sports betting. Already legal in 38 states, sports betting accounted for $10.9 billion of the revenue total or about 11 percent. That number came off of a record-breaking $119 billion handle and speaks volumes for the margins involved in sports betting.

On the land-based side of the business, brick-and-mortar casinos grossed a record-breaking $49.4 billion in gross revenue, up 3.3 percent over 2022. Of the 27 traditional gaming markets the AGA tracks, 19 reported record earnings in 2023.

AGA President and CEO Bill Miller lauded the industry’s epic year in a press release saying, “From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high. Sustaining our momentum will take unified industry efforts around combating pernicious illegal operators and growing responsible gambling efforts in tandem with the growth of the legal market—both of which the AGA is committed to lead on throughout 2024.”

Given the continued expansion of regulated sports betting and a seemingly insatiable appetite for gambling by the US public, 2024 could be a record-breaker, too.