The American casino industry has turned in another huge quarter.
Commercial gaming revenue nationwide totaled $14.81 billion in the second quarter of 2022, according to the Gaming Association of America. The total sets a new quarterly record for the industry, outpacing the fourth quarter of 2021 by 3.3 percent.
With $29.16 billion generated during the first half of the year – nearly an 18 percent year-over-year increase – 2022 is on track to set a new annual record for commercial gaming revenue for the second year in a row.
“The second-quarter results point to a 16-month period of gains for commercial games,” he said. AGA the chief and Executive Director Bill Miller. “With annual comparisons becoming increasingly difficult, our strength during the first half of 2022 reflects continued consumer demand for legal options as well as the record popularity of games.”
The industry’s growth rate slowed in the second quarter, with the pace of monthly gains slowing year-on-year from 13.1% in April, to 10.7% in May, and 2.5% in June.
Twenty-two of the 31 commercial gambling markets over the same period last year saw an increase in revenue in the second quarter of 2022. Arkansas, Iowa, Maryland, Massachusetts, Nevada, New York, Oklahoma, Oregon and Pennsylvania recorded all-time highs.
Traditional casino gambling continued to increase revenue, with both traditional slot machines and table games seeing quarterly revenue records. While slot machine revenue rose 0.2% year over year, revenue from table games jumped 18.2%.
In the first six months of the year, traditional casino gambling generated $23.67 billion in revenue, or 11.7% before the first half of 2021.
The sports betting sector also continues to grow.
“Consumer demand combined with the launch of six new government markets over the past year led to a vertical rise of 58.7 percent compared to the second quarter of 2021,” AGA He said. Sports betting revenue of $3.04 billion so far in 2022 is a 63.9 percent increase year-over-year.
Online casino nations generated $1.21 billion in the second quarter of 2022, surpassing the previous public sector record in the first quarter of 2022. Online casino profits of $2.42 billion generated through June were a 43.5 percent jump over the period. Same in 2021.
“While we are on track to set a record for annual revenue, we are aware of the continuing effects of inflation and employment challenges as well as market fears of a potential recession,” Miller added. “Our members have demonstrated their agility and resilience over the past two years and are well positioned to weather these potential headwinds as the second half approaches.”