The US commercial gaming sector experienced robust growth in August, as per a report from the American Gaming Association (AGA), with revenue climbing 10% compared to the same period last year.
August’s revenue reached $4.89 billion, falling just short of the $5 billion threshold. However, the AGA emphasized that this figure represents an all-time high for the month of August. This achievement also extends the industry’s streak of year-over-year growth to 18 consecutive months, a remarkable feat considering what the AGA describes as a “difficult macroeconomic climate.”
It’s worth noting that August’s earnings reflect a 4% decline from July’s figures. The AGA explained that this aligns with expected seasonal patterns. Apart from June and now August, every month since March has witnessed revenue either reaching or exceeding the $5 billion mark.
Nevada, predictably, took the lead in August, generating $1.2 billion in revenue. New Jersey secured the second position with $471 million, followed closely by Pennsylvania at $429 million.
In terms of growth, Virginia stood out with the most substantial year-over-year increase, a staggering 185%. New Hampshire trailed closely behind with a 163% surge in gaming revenue, while Oregon experienced a notable 155% rise.
Out of the 31 US commercial gaming jurisdictions, only four states witnessed a year-over-year decline in revenue: Delaware, Massachusetts, Mississippi, and Montana.
Nationwide, physical slots and table games collectively generated $4.02 billion, with slots contributing the majority at $2.92 billion.
Commenting on the encouraging outcomes, the AGA stated that “Although overall US travel expenditures in August were lower compared to 2019, revenue growth from the traditional casino sector reached its highest point since April.”
Central and Southern gambling destinations, such as Illinois, Iowa, Louisiana, Mississippi, and Missouri, witnessed a slight uptick in attendance, with 4.2% more patrons compared to pre-COVID levels in 2019.
Notwithstanding this, sports wagering encountered a lull characteristic of the summer period. Bets leveled off at $4.54 billion, reflecting the minimal numbers observed in July. Nevertheless, this still signifies a substantial surge of almost 50% relative to the corresponding timeframe last year.