“AGA’s May revenue report showed continued growth.”

“AGA’s May revenue report showed continued growth.”

Despite a tougher previous period, commercial gaming in the US continued to grow in May according to a report released by the AGA.

AGA stated that despite the macroeconomic challenges, the industry accounted for its three best gaming months in March, April and May, a period in which gaming revenue exceeded $5 billion each month.

In May, commercial casinos, both land-based and online, and sportsbooks accounted for $5.03 billion in gaming revenue, making it the second-highest month in history. The increase in land-based gaming of 1.5% was offset by the decrease in sports betting and i gaming with 7.7% and 2.4%, respectively.

May revenue was 7.9% higher than the same month a year ago, but it was the weakest month in terms of growth since February 2021, when the industry was not feeling the pinch of the restrictions. Of the 31 states with commercial gaming, eighteen had revenue growth.

Despite the soft growth and issues related to the supply chain, labor shortages and inflationary pressures, commercial gaming is firmly on track to achieve another record-setting year after revenue in the first five months of $24.39 billion surpassed revenue for the first five months in 2021.

Four states, Washington DC, Kansas, Mississippi, and South Dakota are falling behind in revenue for the first five months as compared to the same period in 2021, but in three of them it was due to tougher than average previous comparable periods as Kansas, Mississippi and South Dakota began easing operating conditions earlier

Slot machines and table games at land-based gaming venues generated $4.13 billion in revenue last month, which was a marginal 1.4% growth over the previous year and the third-highest month ever. Slot revenue was slightly down at $2.94 billion while table games revenue was up by 10.5%. Through the first five months of the year, revenue grew in 22 of 25 states and stood at $19.7 billion.

Sports betting and online casino continued to increase. Online and retail sportsbooks brought in $487 million in revenue in May. The increase was influenced by the higher number of states that allow sports betting, as compared to the DC in May last year. Revenue was $2.64 billion, an increase of 73.5% against the previous comparable period.

When online casino was allowed in five states, Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia accounted for more than $400 million in gaming revenue.

In the first five months of the year, online casino revenue stood at $2.03 billion, up 45.6% from the same period in the previous year.

Summary:

The American Gaming Association (AGA) released its Commercial Gaming Revenue Tracker report and revealed that in May commercial gaming in the US continued to grow despite a tougher previous comparable period. The industry accounted for its three best gaming months in March, April and May, a period in which gaming revenue exceeded $5 billion each month.