During the latest reporting period, domestic gaming revenues remained strong while foreign markets such as Macau started to experience monthly gaming revenues increases that held their ground throughout the first quarter of 2023.
Commercial gaming revenue in the domestic market, which is comprised of traditional casino games, sports betting and iGaming, totaled $16.6 billion in the first quarter of 2023, according to the American Gaming Association. The latest quarter marked the eighth consecutive quarter of record-breaking revenues as well as a 15.5 percent increase from the first quarter of 2022. More specifically, sports betting reached $2.8 billion and was up 70.1 percent on the year, iGaming grew to $1.5 billion (+22.7 percent), slot gaming swelled to $8.8 billion (+13.8 percent) and table games activity reached $2.5 billion (+13.5 percent).
When reviewing gaming revenue performances at the state level, nearly every market reported growth during the past year. Further, 18 states set single quarter records for total gaming revenue, including major markets such as Indiana, Louisiana, Nevada, New York, Ohio and Pennsylvania. Another trend in the first quarter was the emergence of Ohio as a sports betting market. Since being officially legalized in the state on January 1, 2023, Ohio reported $387.3 million in revenue and $2.5 billion in handle. Ohio now represents the second-largest sports betting market in the United States behind only New York.
READ THE FULL ARTICLE BY BRIAN R. GORDON IN THE 2023 SUMMER EDITION OF GAMING & LEISURE MAGAZINE.