The American Gaming Association (AGA) has released its Commercial Gaming Revenue Tracker for January 2023. The tracker provides state-by-state, cumulative insight into the US gambling industry’s financial performance based on revenue reports by state.
Although 2022 was a record-setting year, US commercial gaming continued to rise in 2023. Moreover, January has set a new monthly high, bringing in $5.5 billion in revenue. The figure is a 21.1% year-over-year increase, marking 23 consecutive months of growth.
US gambling revenue by segment, numbers breakdown
Gaming revenue grew year-over-year across all verticals in January 2023:
- The sports betting segment across 29 live commercial markets exceeded $1 billion in revenue for the first time. American sports fans gambled $10.9 billion, a 58% year-over-year increase.
- Land-based casino revenue from slot machines and table games totaled $3.99 billion, a 14% increase from January 2022. Slots generated $2.86 billion in revenue, a 15.5% increase from the previous year. Meanwhile, revenue from table games gained 14.7%, reaching $838.0 million.
- Online gambling generated monthly revenue of $482.0 million, a 20.6% year-over-year increase. That’s a combined January revenue from:
- New Jersey
- West Virginia
In-person gaming remains the core of the revenue structure. But the online gambling vertical took the largest share of monthly revenue (26.0%) since the peak of the Coronavirus pandemic.
Over the trailing 12-month period from February 2022 – January 2023, the industry’s $61.43M in revenue showed 1.6% sequential growth.
In total, 31 of 33 commercial gaming states that were operational a year ago posted YOY revenue growth in January 2023. The revenue tracker reported that Washington DC and Maryland are the only two that showed a decline of less than 25% each.
New US sports betting markets boost gaming revenue by over 10%
Nationwide sports betting activity in January saw a significant boost, up 10.8% year over year. It was primarily because of a busy sports calendar and the launch of legal markets in:
- Ohio sports betting on Jan. 1 (retail and online betting)
- Massachusetts on Jan. 31 (retail betting)
Arkansas went live last year too. Kansas also legalized sports betting in May 2022, but it is yet to go live online.
During its first month of operating, Ohio reported $208.9 million, breaking any state’s previous single-month sports betting record.
In January 2023, 29 commercial sports betting jurisdictions were live and offering legal, commercial sports betting. In January 2022, there were 26 jurisdictions.