2023 witnessed a 10% increase compared to 2022, amounting to $66.44 billion, marking a notable surge from the $53 billion collected in 2021.
The impressive figures were bolstered by a remarkable fourth quarter, with an unprecedented quarterly revenue of $17.4 billion and a record $6.2 billion generated.
Land-based casinos maintained their robust performance, achieving a record Gross Gaming Revenue (GGR) of $49.4 billion in 2023, a 3.3% rise from the previous year.
Nineteen out of the 27 traditional gaming markets recorded their highest-ever annual revenue.
Sports betting also exhibited significant growth, with a record handle of $119.8 billion and revenue of $10.9 billion, marking increases of 27.8% and 44.5% respectively compared to the previous year.
With the anticipated inclusion of tribal gaming revenue by the National Indian Gaming Commission later in the year, the total GGR for the US in 2023 is poised to approach $110 billion.
Bill Miller, President and CEO of the AGA, remarked, “From traditional casino experiences to online options, there’s an unprecedented demand for gaming among American adults.”
He added, “Sustaining our momentum requires unified industry efforts to combat illegal operators and promote responsible gambling, both of which the AGA is committed to leading in 2024.”
Although legal in just six US states presently, the iGaming sector is anticipated to expand in the near future, given its impressive growth trajectory.
In 2023, online casino revenue in the US surged by 22.9% year-on-year, reaching $6.2 billion. Despite being legal in fewer states than sports betting, iGaming GGR trailed sports betting GGR by only $4.75 billion.
Online gaming constituted 24.7% of nationwide GGR in 2023, marking an annual high and a significant increase from the previous year’s 19.5%.
While several states contemplate introducing iGaming in 2024, New York appears unlikely to legalise it this year, as Governor Kathy Hochul omitted it from her 2025 executive budget.
Contrary to previous concerns, a report commissioned by the iDevelopment and Economic Association (iDEA) revealed that the introduction of online casinos had a positive impact on land-based casinos.
The report, which analysed data from six states, found that land-based casino GGR experienced positive growth rates following the introduction of iGaming.
Additionally, a survey conducted by EKG on casino operators indicated unanimous agreement that cannibalisation fears were unfounded, with 80% reporting no change in land-based revenue and 20% reporting a moderate increase.