In the United States and the American Gaming Association trade group has announced that the nation’s aggregated second-quarter commercial land-based and online gross gaming and sportsbetting revenues hit an all-time high of $14.8 billion.
The advocacy organization used an official Thursday press release to detail that this result represented a rise of 8.8% on the $13.5 billion chalked for the same three-month period last year and comes after a May in which such receipts swelled by 9.5% year-on-year to reach $5.1 billion. The body explained that this latest figure is also some 3.3% better than the previous record of about $14.3 billion set for the final quarter of 2021.
The American Gaming Association is tasked with representing the interests of commercial and tribal casino operators as well as suppliers and other entities affiliated with the gaming industry from across the United States. The enterprise describes itself as ‘the premier national trade group’ for a sector that is annually worth well north of $260 billion and counts such big-wigs as Penn National Gaming Incorporated, Mohegan Gaming and Entertainment and MGM Resorts International among its members.
Leading the way in terms of second-quarter commercial gross gaming revenues and the American Gaming Association disclosed that combined slot receipts swelled by 0.2% year-on-year to $8.7 billion while associated gaming table income increased by an even more impressive 18.2% to top $2.5 billion. The organization moreover noted that sportsbetting proceeds for the three months to the end of June improved by 58.7% to exceed $1.4 billion with iGaming having chalked up a 34.3% boost to surpass $1.2 billion.
The American Gaming Association went on to divulge that the second-quarter figures pushed half-year commercial land-based and online gross gaming and sportsbetting revenues in the United States up by almost 18% year-on-year to nearly $29.2 billion. The group stated that this has put the industry ‘on pace to set a new annual record’ for the second consecutive year following the considerable tumult of the coronavirus pandemic.
Bill Miller (pictured) serves as the President and Chief Executive Officer for the American Gaming Association and he used the press release to caution that the industry’s overall revenue growth rate nevertheless softened during the second quarter as the pace of month-on-month gains went from 13.1% in April to 2.5% in June. The experienced figure nonetheless asserted that this was an optimistic demonstration of ‘stabilizing consumer demand’ as well as a ‘return to the normal gaming operations of one year ago’.
Read a statement from Miller…
“The second quarter’s results mark a 16-month period of gains for commercial gaming. With increasingly difficult year-on-year comparisons, our strength through the first half of 2022 reflects sustained consumer demand for legal options as well as gaming’s record popularity.”
The American Gaming Association revealed that its latest second-quarter figures were released only a day after the National Indian Gaming Commission pronounced that tribal gaming receipts in the United States for the whole of 2021 had realized a record high of $39 billion. It finished by asserting that this figure, when combined with the $53 billion contributed by the commercial sector, equated to a year-on-year swell of 13%.
The statement from Miller read…
“Tribal gaming demonstrated its responsible leadership throughout the pandemic and these record results reflect that commitment. The full recovery and ongoing success of tribal casinos goes well beyond the casino floor to support vibrant communities across the country.”