The U.S. Gaming Industry Council (AGA) has published its July-September 2023 findings, and the figures are clear: the gambling sector is flourishing. Total gaming income reached an unprecedented $16.17 billion, a 6.1% surge compared to the corresponding timeframe last year. This represents the most profitable third quarter in the annals of the U.S. commercial gambling sector.
This remarkable achievement makes July-September 2023 the second most profitable quarter ever, trailing only the benchmark established in January-March 2023.
Analyzing the expansion by segment, slot machines witnessed a 1.7% uptick, attaining $8.98 billion in earnings. Table games experienced a 3.8% climb, producing $2.64 billion. Sports wagering, propelled by fresh market introductions and sustained fervor, escalated by a noteworthy 22.8%, hitting $2.15 billion. Internet gambling, nevertheless, emerged as the swiftest-expanding division, with earnings soaring by 26% to attain $1.52 billion.
The analysis ascribes the extraordinary expansion in sports wagering to the debut of lawful sportsbooks in emerging markets such as Maryland (digital), Massachusetts, Nebraska, and Ohio, none of which were operational during the parallel period the previous year. This sector is also poised to eclipse yearly records, with U.S. residents already placing a remarkable $79 billion in wagers within the initial nine months of 2023, a 32.7% year-on-year increase. Both physical casinos and internet gambling platforms celebrated unprecedented quarters, underscoring the extensive allure of gaming across diverse mediums.
William Miller, the top dog at the American Gaming Association, expressed significant enthusiasm regarding the figures. He highlighted how the gaming sector, encompassing both digital and physical realms, is generating numerous employment opportunities and injecting substantial revenue into localities via taxation.
Furthermore, he noted the surging popularity of gaming, transforming it into the preferred entertainment choice for a vast number of US citizens. This pronounced shift towards legitimate sports wagering underscores the critical need for federal and state authorities to suppress unregulated offshore entities.