U.S. commercial gaming revenue reached an annual record of $60.4 billion in 2022, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This marks the first $60 billion year for the commercial gaming sector, passing the previous record of $53 billion set in 2021.
The year was punctuated by all-time high quarterly commercial gaming revenue of nearly $15.9 billion in Q4 2022. Sports betting and iGaming both marked single-quarter highs, while traditional gaming grew 1.7 percent year-over-year.
“Our industry significantly outpaced expectations in 2022,” said AGA President and CEO Bill Miller. “Simply put, American adults are choosing casino gaming for entertainment in record numbers, benefiting communities, and taking market share from the predatory, illegal marketplace.”
The industry continues to diversify offerings, with retail gaming accounting for 80.5 percent of total revenue and online gaming making up the remaining 19.5 percent—marking a new high.
Looking at each sector:
Traditional Gaming: 84 million American adults, or 34 percent of the adult population, visited a casino in the past year—including new markets in Nebraska and Virginia. Table game revenue experienced a strong boost in demand, up 13.9 percent year-over-year, while slot machines showed steady 5.1 percent annual growth.
Legal Sports Betting: In 2022, the continued growth of the legal market drove new records for handle ($93.2 billion) and sportsbook revenue ($7.5 billion). This growth was fueled in part by Kansas, which operationalized both retail and mobile sports wagering, and the launch of mobile sports betting in Louisiana, Maryland and New York.
Online Gaming: Online casino revenue grew 35.2 percent year-over-year to $5 billion in the limited number of legal iGaming states.
In 2022, the Las Vegas Strip and Atlantic City retained their top commercial market positions. The Baltimore-Washington, D.C. market reclaimed its position as the nation’s third-largest gaming market, besting Chicagoland (fourth) and the Mississippi Gulf Coast (fifth), which round out the top five.
“Even as we navigate macroeconomic headwinds, I am optimistic about the year ahead,” said Miller. “To carry our momentum into 2023, the AGA remains focused on combating the illegal market, doubling down on responsibility, and creating favorable policy and regulatory conditions that enable our industry’s sustained success.”
Given the success of the U.S. market as a whole, it should also come as no surprise that Nevada, the biggest individual market, also posted all-time highs.
The Nevada Gaming Control Board issued a report showing that the state’s casinos won a record $14.8 billion from players in 2022, holding $10 billion on slots and $4.8 billion on table games—a 10.5 percent increase year-over-year. The report also shows that slot hold is down slightly in popular denominations.
Penny slots, the most popular denomination, won 9.81 percent in 2022 compared with 9.85 percent in 2021. The $5 slot machines won 5.46 in 2022, compared with 5.48 percent in 2021.
Other categories saw a tightening of slots. Multi-denomination machines won 6.13 percent in 2022, compared to 5.87 percent in 2021. The $25 slot machines won 5.86 percent of the money last year, compared to 5.71 percent for the same period a year earlier.
