Despite challenging macroeconomic conditions, the AGA has reported May 2022 as the second-highest month since records began for revenue in US commercial gaming history.
The measure combines landbased revenue from casinos and sportsbooks with gambling revenues, too and continues a positive trend identified by the AGA since the end of prohibitive measures due to Covid-19.
When compared to May 2021, revenue has upped 9.5%, while the YTD revenue has increased a more impressive 21% – likely due to the easing of restrictions, and larger number of incumbants to the regulated market across the country.
In a release, the AGA stated that the 9.5% increase ‘is the softest’ growth rate since February 2021, as a result of moving beyond heavily influenced and impacted Covid months.
On a state-by-state level, only four states fall behind their gaming revenue pace at the start of 2021 which are the following: District of Columbia – down 21.2%; Mississippi – down 2.5%; Kansas – down 0.8% and South Dakota – down 1.9%. The reason attributed to the decrease in Kansas, South Dakota and Mississippi is the earlier easing of Covid restrictions, thus higher revenue in prior year.
Elsewhere, 18 of 31 operational states with regards to commercial gaming exhibited strong growth since May 2021. As is par for the course in the United States, landbased casino slot machines and table growth amounted for US$4.1bn in revenue. Table games also increased by 10.5% year-on-year, while slot machine revenue generally stayed stagnant.
The largest growth, predictably, came from online sports betting sites and landbased sportsbook, where US$555m from 26 operational states provided a growth of 78.2% from last year, whereby only 20 states were live.
In addition, igaming predictably showed strong performance, reaching US$406.4m from just Connecticut, Delaware, Michigan, New Jersey, Pennsylvania and West Virginia.
As further states continue to regulate, one would assume that growth will continue and it won’t be long until the record on a monthly basis is broken.