Record Breaking Revenue
According to U.S. commercial gaming industry’s financial performance reports, Gross Gaming Revenue (GGR) hits $14.81 billion which shows an 8.8% increase compared to Q2 of 2021 while it is ahead by 17.8% when we cover the first half of 2022 compared to 2021.
Sports betting GGR had the highest increase with a 58.7% increase when compared to Q2 of 2021 and a 63.9% if it is a year-to-date increase.
Nine commercial gaming states which include, Arkansas, Iowa, Maryland, Massachusetts, Nevada, New York, Oklahoma, Oregon, and Pennsylvania, post record-breaking quarters while 22 out of the 31 regulated states reported an increase in revenue. Nevada leads all regulated states with $3.7 billion, followed by Pennsylvania’s 1.32 billion and New Jersey‘s $1.25 billion.
With the current pace of the US Gaming Industry, breaking the 2021 record for the Highest-Grossing Year is definitely within reach.
Slots and Table Games Contributed 80%
Slot machines and table games are two of the most popular games for casino players. Both offer the opportunity to win big jackpots, and both can be played for a variety of stakes. Slot machines offer the chance to win big jackpots with a single spin, while table games like blackjack and roulette provide an opportunity to use strategy and skill to beat the house.
This is why it is easy to understand that these two types of game alone accounts for 82% of the total reported revenue for the quarter of $12.17 billion combined.
Travel Industry Fuels US Gambling Market
One of the main contributors to this surge in revenue is the Travel Industry’s bounceback. After a year of struggling with the Covid pandemic, it appears that the travel industry is finally beginning to rebound. This is good news for the economy as a whole, as the travel industry is one of the largest drivers of growth.
According to U.S. Travel Association, the industry’s performance had experienced three consecutive rising trends and also break its ceiling with a $105 billion revenue in June. This bounceback has fueled the rising US gambling market to push it beyond its previous limits.
AGA President and CEO Bill Miller:
“Q2’s results mark a 16-month period of gains for commercial gaming. 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.”