American Gaming Association Reveals Record US Gambling Revenue
American Gaming Association Reports total US gambling Revenue of $14.31 billion for Q1
According to the American Gaming Association (AGA) report, the first quarter of 2022 has set a new record for the gambling industry. Nationwide commercial gaming revenue came in at $14.31 billion, setting a new Q1 record. The figure nearly matched the all-time quarterly record, which was posted in the fourth quarter of 2021 at $14.35 billion.
AGA President and CEO Bill Miller said that “consumers continue to seek out gaming’ s entertainment options in record numbers.” Miller added that the strong results in Q1 “build on the industry’s record year in 2021” despite negative impacts such as labor shortages, soaring inflation, and supply chain constraints.
Figures for Commercial Gaming Revenue
Total commercial gaming revenue for Q1 of 2022 increased nearly 29% from 2021. This was boosted with 32 of 32 commercial gaming jurisdictions surpassing Q1 revenue from 2021. New York ($996.6 million), Florida ($182 million), and Arkansas ($147.4 million) each set new quarterly records.
Sports wagering and iGaming both set all-time quarterly records, with iGaming at $1.21 billion and sports betting’s gross gaming revenue at $1.58 billion.
Miller said that four years after PASPA, the success of legal sports betting is proving what we have known all along: “American consumers are eager to wager” within the protections of a legal and regulated market. Milled added that it also reinforces the requirement to “stamp out offshore, illegal operators” who try and take advantage of vulnerable customers.
Industry Bounced Back in 2021
According to the AGA, last year set a new annual record for commercial gaming with $53.03 billion in revenue. This was an increase of 21.5% from the previous high in 2019.
Commercial gaming operations also generated $11.69 billion in gaming tax revenue to state and local governments, an increase of 75% from 2020 and 15% from 2019.
Miller said, “our industry’s success goes beyond the bottom line” and goes into communities across the country. He added that the record state and local tax contributions help fund vital services like “infrastructure and education to healthcare and emergency services.”
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