Commercial Casinos Win $14.8B In Second Quarter
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The U.S. casino industry turned in another massive quarter.
Nationwide commercial gaming revenue totaled $14.81 billion in Q2 2022, according to the American Gaming Association. The total sets a new quarterly record for the industry, beating Q4 2021 by 3.3 percent.
With $29.16 billion generated through the first half of the year—a nearly 18 percent year-over-year increase—2022 is on pace to set a new annual record for commercial gaming revenue for the second consecutive year.
“Q2’s results mark a 16-month period of gains for commercial gaming,” said AGA President and CEO Bill Miller. “With increasingly difficult year-over-year comparisons, our strength through the first half of 2022 reflects sustained consumer demand for legal options as well as gaming’s record popularity.”
The industry’s growth rate did slow in the second quarter, with the pace of monthly year-over-year gains slowing from 13.1 percent in April, to 10.7 percent in May, and 2.5 percent in June.
Twenty-two of the 31 commercial gambling markets during the same period last year experienced revenue increases in Q2 2022. Arkansas, Iowa, Maryland, Massachusetts, Nevada, New York, Oklahoma, Oregon, and Pennsylvania reported all-time quarterly highs.
Traditional casino gambling continued to drive revenue, with both brick-and-mortar slots and table games seeing quarterly revenue records. While slot machine revenue was up 0.2 percent year-over-year, revenue from table games jumped 18.2 percent.
In the first six months of the year, traditional casino gambling generated $23.67 billion in revenue, 11.7 percent ahead of the first half of 2021.
The sports betting sector also continues to grow.
“Consumer demand coupled with six new state market launches over the last year put the vertical up 58.7 percent from Q2 2021,” the AGA said. “The $3.04 billion in sports betting revenue thus far in 2022 is a 63.9 percent year-over-year increase.”
Online casino states generated $1.21 billion in Q2 2022, narrowly beating the vertical’s previous record set in Q1 2022. The $2.42 billion in online casino win generated through June is a 43.5 percent jump over the same period in 2021.
“While on pace to set an annual revenue record, we are cognizant of the continued impacts of inflation and labor challenges as well as marketplace concerns of potential recession,” Miller added. “Our members have proven their agility and resilience over the last two years and are well-positioned to face these potential headwinds heading into the second half.”
