US gaming industry eclipses $5.6bn in October revenue
Record October doubles as third-highest-grossing month ever tracked by AGA as action from all four major sports result in bumper month
The US regulated gaming industry has been in a prolonged period of growth and October was no exception, with total gaming revenue eclipsing $5.6bn according to new data from the American Gaming Association (AGA).
The cumulative $5.62bn logged by the AGA’s Commercial Gaming Tracker, which established a new October record, represented a 5.9% year-on-year (YoY) increase from the same period of 2022 while registering as the 32nd consecutive month of YoY growth overall.
The figure, which encompasses retail casino games, sports betting and igaming, trailed only March and September of this year for the highest-grossing month in US gaming history.
The banner month was fueled by the online gaming segment – and specifically sports betting, thanks to a rich sporting calendar highlighted by all four major US sports in action at once – which saw a 34.4% YoY surge in revenue.
Land-based gaming revenues, conversely, were down 2.2% from October 2022, with table game revenue (4.5%) seeing a more substantial decrease than slot machines (0.7%).
Overall, 20 of the 27 states featuring brick-and-mortar casinos experienced annual declines in revenue.
The continued rise and prevalence of online gaming has more than made up for the dip in retail volume, however, as cumulative US gaming revenue is currently outpacing 2022 – itself a record year – by 9.6%.
The online space has been buoyed by the launch of mobile sports betting in five states – Ohio, Massachusetts, Maryland, Kentucky, and Kansas – since January.
With $54.4bn in aggregate revenue through October, the US industry has already exceeded the $52.8bn amassed in 2021, which stands as the second-highest-grossing year on record.