U.S. Commercial Casino Industry Wins $14B From Gamblers In First Quarter Of 2022Industry Winnings Are Most Ever For A Start To Calendar Year |
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A slowing U.S. economy hasn’t yet been officially felt by the casino industry.
Nationwide commercial gaming revenue totaled $14.31 billion in Q1 2022, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker.
The figure set a new Q1 record and nearly matched the all-time quarterly record, which was set in Q4 2021 at $14.35 billion.
Online casino gambling, legal in just a handful of states, contributed about $1 billion of the $14.31 billion in the first quarter of this year.
The fast start to the year was led by March’s revenue of $5.31 billion. The month marked the highest-grossing revenue month in U.S. commercial casino industry history. Winnings from February of this year were also a record for that individual month.
Revenue from tribal casino operations in the U.S. are not included in these figures. Tribal casinos win more than $30 billion each year off of players, or about $8 billion a quarter.
“Consumers continue to seek out gaming’s entertainment options in record numbers,” said AGA President and CEO Bill Miller in a statement. “Q1’s strong results build on the industry’s record year in 2021 despite continued headwinds from supply chain constraints, labor shortages, and the impact of soaring inflation.”
Momentum for the industry has yet to cool from a banner 2021. The commercial industry won a record $53 billion off gamblers across last year.
Total commercial gaming revenue for Q1 2022 increased nearly 29 percent year-over-year. Nearly every (32 of 34) commercial gaming jurisdiction surpassed Q1 revenue from last year and three of those markets set quarterly records: Arkansas ($147.4 million), Florida ($182.0 million), and New York ($996.6 million).
The state of New York kicked off sports betting in January 2022 and has quickly become the nation’s top market in terms of wagering handle.
“Four years post-[the Professional and Amateur Sports Protection Act], legal sports betting’s success is proving what we’ve known all along: American consumers are eager to wager within the protections of the regulated market,” Miller added.
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