US Posts Record-Breaking $8.92bn Gaming Revenue for First Two Months of 2022

  • US gaming revenue has reached $8.92bn for the first two months of 2022, setting a record
  • Commercial gaming revenue for 2022 has eclipsed pre-pandemic levels by as much as 19%
  • Slot games and table games are responsible for the bulk of profits generating around $6.6bn
  • AGA CEO Bill Miller believes the results indicate continued momentum from 2021

 

Slot machine
The US gaming industry has well and truly recovered following the COVID-19 pandemic, posting its fastest start to a year ever with $8.92bn in commercial revenue. [Image: Shutterstock.com]

Off to a flying start

It’s officially the US gaming industry’s fastest start to a year on record, with $8.92bn in commercial gaming revenue recorded for the first two months of 2022.

a 19% increase in commercial gaming revenue

The American Gaming Association (AGA) recently published a series of encouraging numbers for January and February, including a 19% increase in commercial gaming revenue compared to pre-pandemic figures from 2020.

The US-based gaming body took to Twitter on Tuesday to share the news:

Soaring slot revenue, continued iGaming strength, and pleasing sports betting returns in the face of a quiet sporting calendar, all contributed to February delivering the 12th consecutive month of $4bn or more in revenue.

Drilling into the stats

Slot games and table games continue to be the bedrock of the industry, making up $6.6bn of the $8.92bn in commercial gaming revenue for January and February 2022. Meanwhile, sports betting and iGaming produced solid numbers in January, but February wasn’t as profitable. They accounted for only 16% of commercial casino revenue, which is the lowest since August 2021.

Casino visitation numbers remain consistent. Las Vegas experienced a 22% decrease in visitations compared to February 2020, but the overall number was 70% higher than it was a year ago. In some cases, the increase in average gaming casino revenue per admission, which is up by 34% across the five reporting states, is offsetting lower visitation numbers.

Only five states recorded lower gaming revenue than 2020’s January/February record. Of these states, Rhode Island saw the steepest decline of 13%. The AGA has attributed this to competition from a new tribal gaming facility and “the highly competitive environment of New England, citing the opening of the Encore Boston Harbor in 2019.

Promising signs for 2022

The US commercial gaming industry recorded its highest ever grossing year in 2021, generating a staggering $53bn in revenue. Bill Miller, the AGA’s president and CEO, believes this year’s initial figures show this progress will continue. He said: “This record start to the year demonstrates the sustained momentum of our industry’s recovery into 2022.” 

cause for optimism within the industry

The next set of AGA figures will provide us with a clearer picture of what 2022 has in store. With a more stacked sporting schedule in March, including a huge level of betting interest in March Madness, there’s definitely cause for optimism within the industry.