Q1 Sets U.S. Gambling Records with Over $14 Billion in Nationwide Revenue
The first quarter of 2022 was a record for the gaming industry, according to a report from the American Gaming Association (AGA).
Nationwide commercial gaming revenue totaled $14.31 billion, setting a new Q1 record and nearly matching the all-time quarterly record set in the fourth quarter of 2021 at $14.35 billion.
“Consumers continue to seek out gaming’ s entertainment options in record numbers,” AGA President and CEO Bill Miller said in a media release. “Qi’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.”
More on Commercial Gaming Revenue
Total commercial gaming revenue for the first quarter of 2022 increased nearly 29% from 2021, with 32 of 32 commercial gaming jurisdictions surpassing Q1 revenue from last year. Arkansas ($147.4 million), Florida ($182 million) and New York ($996.6 million) each set new quarterly records.
Sports betting and iGaming both set all-time quarterly records with sports betting’s gross gaming revenue at $1.58 billion and iGaming at $1.21 billion.
“Four years post-PASPA, 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 said in the release. “It also reinforces the need to stamp out offshore, illegal operators who prey on vulnerable customers.”
Bounce Back in 2021
According to the AGA, 2021 was a new annual record for commercial gaming with $53.03 billion in revenue — an increase of 21.5% from the previous high in 2019.
Commercial gaming operations also generated $11.69 billion in direct gaming tax revenue to state and local governments, up 75% from 2020 and 15% from 2019.
The top 10 commercial gaming markets in 2021 were Las Vegas, Atlantic City, Chicagoland, Baltimore-Washington D.C., Gulf Coast, New York City, Philadelphia, Detroit, St. Louis and Boulder Strip.
“Our industry’s success goes beyond the bottom line and into communities across the country,” Miller said. “The record state and local tax contributions fund vital services from infrastructure and education to healthcare and emergency services.”
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