US gaming revenue in May falls short of record levels

US gaming revenue in May falls short of record levels

According to the American Gaming Association, over the month of May, commercial gaming in the United States, which encompasses revenues from sports betting and online casinos the country, reached its second-highest level ever.

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AGA reached its second highest level ever

The $5.1 billion recorded by land-based casinos, sportsbooks, and igaming marks the third consecutive month in which the $5 billion threshold has been reached. Despite continued issues, the industry group presents its most recent Commercial Gaming Revenue Tracker data and adds that the sector is on course for “another possibly record-setting year.” 

Despite supply chain challenges, labor shortages, and inflation, revenue during the first five months of 2022 was $24.47 billion, a 21 percent increase over the same time in 2021. The year-over-year growth rate of 9.5% is the worst since February 2021, when YoY comparisons began to exclude months in which the sector was subject to heavy COVID-related operational limitations. 

Only the District of Columbia, Kansas, Mississippi, and South Dakota have fallen behind their 2021 pace during the first three months of this year. The 31-day period generated $4.13 billion in revenue for slot machines and table games at land-based casinos, an increase of 1.4% year-over-year and the third-highest month performance. In addition, commercial gaming revenues from sports betting and igaming continued to increase annually throughout the month.

US gambling income falls short of historical norms

Land-based and online sportsbooks produced $555 million in income from commercial operations in 26 states during the month of May, a 78.2% increase from 2021, when sports betting markets were active in 20 states and the District of Columbia compared to 30 states and the District of Columbia today. 

The commercial sports betting income for the first five months of 2022 is $2.7 billion, a 78 percent increase over the same time in the previous year. In May, online casino revenue in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia totaled $406.4 million, a 30.9% increase from the five states in 2021.

The annual performance of the operations is $2.03 billion through five months, an increase of 45.6%. In May, the combined income from igaming and sports betting amounted for 18.9 percent of the total revenue from commercial gaming, which is consistent with prior months.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.