In November, the U.S. commercial gaming industry extended its multi-year expansion with a substantial 7.0 percent increase in commercial gaming revenue on an annual basis. This marked the industry’s 31st consecutive month of year-over-year growth and the highest grossing November ever. Data sourced from state regulators, compiled by the American Gaming Association (AGA), shows that combined revenue from traditional casino games, sports betting and iGaming reached a total of $5.38 billion for the month.

After decelerating through most of 2023, monthly commercial gaming revenue’s growth year-over-year stabilized at around 7 percent in the fall. Notably, November’s robust performance was propelled by the fastest acceleration in the brick-and-mortar vertical since February, which compensated for the relatively slow annual revenue growth in sports betting.

The industry generated total gaming revenue of $59.84 billion, surpassing last year’s pace by 9.5 percent, through the first eleven months of 2023. With initial December numbers already reported in some states, 2023 revenue has already surpassed 2022’s record total.

At the state level, 20 of 34 commercial gaming jurisdictions that were operational a year ago and had released full November data at the time of writing saw gaming revenue expand year-over-year.

Through November, D.C. is trailing last year by -20.2 percent, while six jurisdictions remain marginally behind their revenue pace from the same period in 2022: Florida (-0.7%), Indiana (-3.1%), Iowa (-0.4%), Missouri (-0.5%), Mississippi (-3.8%) and Oklahoma (-0.7%).

November revenue from land-based gaming—encompassing casino slots, table games and retail sports betting—increased by a robust 4.7 percent year-over-year, the strongest annual gain since February. Conversely, the momentum in revenue growth from online gaming—encompassing online sports betting and iGaming—decelerated to 14.9 percent, the slowest rate of annual gain since before the pandemic.

While iGaming sustained its strong performance in November, the growth in online sports betting revenue experienced a notable slowdown. This deceleration occurred despite achieving a single-month handle record, as the hold rate for online sports betting nationwide dropped to 6.3 percent—its lowest level since June 2022.

In Novmber, traditional casino slot machines and table games collectively generated revenue of $4.00 billion, a year-over-year increase of 5.0 percent. The individual slot and table game figures exclude data from Louisiana and Michigan due to differences in state reporting, but their combined figures contribute to the nationwide total. Of total revenue, slot machines contributed $2.83 billion, marking a 2.7 percent increase, while table game revenue surged by 18.1 percent to reach $908.8 million.

The second highest table game win total of 2023 was driven by a 49.3 percent jump in Nevada. The Formula One race held in the middle of the month notably contributed to the third-best month ever for table game revenue on the Las Vegas Strip. Within Nevada table games, baccarat revenue continued its strong growth and grew 209.1 percent, generating $181.4 million statewide. The next biggest segment in table games was blackjack, which generated $121.2 million, up 26.5 percent.

At the state level, 15 out of 27 states offering traditional casino slot machines and/or table games posted year-to-date revenue growth for these segments in November. While most decliners experienced modest decreases of three percent or less, Michigan’s revenue from slot machines and table games dropped by 23.9 percent due to the labor dispute at Detroit’s commercial casinos.

Through November, casino slot machines and table games collectively generated revenue of $45.02 billion, surpassing the same period last year by 2.9 percent.

A busy November calendar, coupled with Maine becoming the 32nd jurisdiction to offer commercial sports betting, pushed commercial sports betting handle to an all-time high of $13.48 billion, up 34.6 percent year-over-year.

The record-breaking handle was counterbalanced by a notable decline in sportsbook win, dropping to 6.3 percent compared to 7.8 percent in 2022. This decrease resulted in modest 8.3 percent revenue growth, totaling $811.0 million. Figures exclude Arizona and Kentucky data, as they had not reported November numbers at the time of publication.

Year-to-date commercial sports betting revenue reached $9.20 billion, tracking 46.6 percent ahead of the same period last year. Americans collectively wagered $106.09 billion through the end of November, underlining the continued robustness of the legal sports betting market.

The iGaming vertical continued its robust growth with $533.6 billion generated in November across the six active states. This reflects a 17.8 percent increase year-over-year and stands as the third highest-grossing month for iGaming nationwide.

After 11 months, U.S. iGaming is poised for another record-breaking year. Through November, revenue stands at $5.02 billion, 23.1 percent higher than the same period last year.