US Gaming Revenue Soars to Record High in August

As reported by the American Gaming Association (AGA), revenue from commercial gaming in the United States witnessed a robust 10% surge this past August in comparison to the same month the previous year. This impressive performance brings the cumulative revenue for August to a remarkable $4.89 billion, establishing a new all-time high for the month.

This achievement marks 18 consecutive months of year-on-year expansion for the sector, a noteworthy accomplishment given the prevailing economic conditions. Although August’s revenue did experience a 4% decline compared to July, this aligns with typical seasonal patterns. Since March, monthly revenue has consistently reached or exceeded the $5 billion threshold, with June and August being the sole outliers.

Unsurprisingly, Nevada claimed the top spot with an impressive $1.2 billion in revenue. New Jersey secured a solid second position with $4.71 billion, followed closely by Pennsylvania at $4.29 billion.

Some of the most remarkable growth was observed in Virginia, which registered a staggering 185% increase compared to the previous August. New Hampshire followed closely with a 163% surge, while Oregon witnessed a substantial 155% rise in revenue.

Among the 31 commercial gaming jurisdictions across the US, only four experienced a year-on-year decline in revenue: Delaware, Massachusetts, Mississippi, and Montana.

On a national scale, physical casinos generated $4.02 billion from slot machines and table games, with slots representing the majority share at $2.92 billion.

The AGA highlighted that this surge in casino revenue coincides with a period when overall US tourism spending has decreased compared to August 2019. This suggests that the conventional casino industry is undergoing a robust recovery, with August exhibiting the most significant growth since April.

Regional gaming establishments across Illinois, Iowa, Louisiana, Mississippi, and Missouri witnessed a mean uptick in visitor numbers of 4.2% relative to their 2019 levels.

Concurrently, the sports wagering sector is navigating its customary summer lull. Bets placed plateaued at $4.54 billion, roughly on par with July, traditionally a slower month. Despite this, the number still represents a near 50% surge in comparison to the corresponding timeframe last year.