The Commercial Gaming Revenue Tracker of the American Gaming Association (AGA) is reporting that the first quarter of 2022 has almost reached record-breaking revenue numbers. A total of $14.31 billion was generated in Q1 this year, just short of the $14.35 billion generated in the same quarter of 2021. The strong start to this year was pushed by March totals which came in at over $5.3 billion.
Details of the First Quarter
According to the AGA’s tracker, the total revenues from commercial gaming in the United States were up almost 29% compared to last year. Of the 34 commercial gaming jurisdictions, 32 surpassed the Q1 totals from 2021. Three of the jurisdictions set a quarterly record. New York hit over $996 million while Florida was up over $182 million. Arkansas generated over $147 million.
Of the total amount generated in the quarter, $8.19 billion came from slots. The machines were up over 19% from Q1 2021. Table games were up even more at over 42% with $2.38 billion in revenue earnings. Sports Betting came in at $1.58 billion, a more than 64% increase. Online gaming was also on the up and up, bringing in $1.21 billion, a more than 53% increase from last year.
Bill Miller, the CEO and President of the AGA commented on the results by stating: “Consumers continue to seek out gaming’s entertainment options in record numbers. Q1’s strong results build on the industry’s record year in 2021 despite continued headwinds from supply chain constraints, labor shortages, and the impact of soaring inflation.”
State of the States 2022
The AGA also provided details on the State of the States report. The info inside the report showcases how the commercial gaming market has bounced back last year after the onset of the COVID-19 pandemic.
Last year, a new annual record was set for commercial gaming services, with over $53 billion generated in total. This was a more than 21% increase from 2019. The year 2020 was disregarded since casinos were closed due to the pandemic.
Direct gaming tax revenues to state and local governments totaled over $11.6 billion, which is a huge 75% more than 2020 totals. The top markets for the year include the Las Vegas Strip, Atlantic City, Chicagoland, Baltimore-Washington D.C., and the Gulf Coast.
Stop Offshore Gaming
In discussing the quarterly report, Miller stated that since PASPA was eliminated, the success of legalized sports betting proves that American consumers want to wager within a regulated market. Miller says it reinforces the need to stop offshore operators from serving customers in the USA.
In April, the AGA issued a request for the federal government to start cracking down on unregulated online casinos and sportsbook operators as well as skill game machines. A letter was sent to US Attorney General Merrick Garland asking him to take action along with the Department of Justice to protect consumers.