Q3 2022 sets second consecutive record for quarterly commercial gaming revenue

Through the first nine months of the year, 2022 is on pace to surpass 2021 as the highest-grossing commercial gaming revenue year ever, tracking 14.7 percent ahead of the same period last year and already surpassing full-year revenue for 2019.

“While business challenges remain, high consumer demand continues to fuel our industry’s record success,” said AGA President and CEO Bill Miller. “Our sustained momentum in the face of broader economic volatility points to gaming’s overall health today and provides confidence as we look to the future.”

Commercial gaming’s year-over-year growth rate in Q3 2022 of 8.8 percent outperformed the broader U.S. economy’s growth rate in Q3 2022 of 2.6 percent.

Land-based slots and table games continue to be the foundation for the industry’s revenue growth, generating a record $12.27 billion in Q3 2022—up 1.8 percent from Q3 2021. Combined year-to-date revenue for the verticals stands at $35.94 billion, up 8.1 percent year-over-year.

Due to a high sportsbook win percentage and solid growth in existing markets, sports betting also set a new quarterly revenue record of $1.68 billion, up 80.6 percent year-over-year. Sports betting revenue through September has already reached an all-time annual high of $4.78 billion, beating 2021’s full-year record of $4.34 billion.

iGaming revenue of $1.21 billion fell less than one percent short of a new quarterly record. With $3.62 billion generated in iGaming revenue through September, the vertical remains on pace to join slots, table games and sports betting in posting record revenue in 2022.

Out of 33 commercial gaming states that were operational one year ago, 16 reported quarterly highs in overall commercial gaming revenue in Q3 2022, including five of the six largest markets: Indiana, Michigan, Nevada, New York and Pennsylvania.