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Gambling in the USA

Tech-Savvy Millennials and High-Spending Baby Boomers Propel Growth in US Online Gambling Market

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The “US Online Gambling Market – Focused Insights 2023-2028” report has been added to ResearchAndMarkets.com’s offering.

The US online gambling market is poised for significant growth, with a projected market value of $22.31 billion by 2028, representing a Compound Annual Growth Rate (CAGR) of 11.7% from 2022 to 2028.

This dynamic expansion is attributed to various factors, including rising per capita income, increased adoption of smartphones, the tech-savviness of millennials, and a growing number of dual-income households. Major players are strategically entering the US online gambling market through agreements, acquisitions, and collaborations to tap into the growing demand for digital gambling.

Market Highlights:

  1. High Spending Power: Baby boomers and Generation X, known for their high spending power, are driving the US gambling market. Their inclination toward technology and increased urbanization are key contributors to market growth.
  2. Millennial Influence: Millennials, often referred to as the digital generation, are tech-savvy and smartphone-dependent. Their preferences and behaviors are set to propel the online gambling market in the region.
  3. Casino Industry Growth: In 2022, the US casino industry experienced growth, with increased consumer spending across the nation. Intense competition among casinos in different states to attract gamers has contributed to this growth.
  4. Thought Leadership Strategy: The region is expected to adopt a thought leadership strategy, with players establishing gambling facilities while maintaining offshore operations for profit enhancement and expanding their customer base.
  5. Macroeconomic Factors: The performance of the gambling industry is closely linked to macroeconomic factors such as job growth and consumer confidence. While the growth has been uneven nationwide, several states with commercial casinos have witnessed increased gross gaming revenues.

List of Key Vendors:

  • Caesars Entertainment
  • Las Vegas Sands
  • MGM Resorts International
  • Wynn Resorts
  • PENN Entertainment
  • Entain
  • Flutter Entertainment
  • Kindred
  • 888 Holdings
  • BET365

Other Prominent Vendors:

  • Betway
  • Genting Berhad
  • Betsson
  • Sportech
  • Tipico
  • Light & Wonder
  • IGT
  • DraftKings
  • Boyd Gaming
  • Evolution

Market Segmentation:

  • Product (Revenue):
    • Casino
    • Lottery
    • Betting
    • Poker
    • Others
  • Platform (Revenue):
    • Desktop-Based
    • Mobile
    • Others

Market Structure:

The report provides insights into market dynamics, the competitive landscape, key vendors, and other prominent players in the US online gambling market.

Key Attributes:

Report Attribute Details
No. of Pages 57
Forecast Period 2022 – 2028
Estimated Market Value (USD) in 2022 $11.51 Billion
Forecasted Market Value (USD) by 2028 $22.31 Billion
Compound Annual Growth Rate 11.6%
Regions Covered United States

 

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AGA President and CEO Bill Miller

AGA to Host State of the Industry Presentation, Release Report on Record-Breaking 2023 Commercial Gaming Revenue

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The American Gaming Association (AGA) will hold its annual State of the Industry presentation with AGA President and CEO Bill Miller today, February 20 at 11:30 AM ET/8:30 AM PT.

During the presentation, the AGA will release full-year 2023 commercial gaming revenue numbers, discuss gaming’s third consecutive record-setting revenue year, provide analysis on the current gaming landscape, and preview AGA priorities for 2024.

Media are invited to a press call immediately following the presentation for Q&A.

What: AGA State of the Industry: Gaming’s Look Ahead & 2023 Commercial Gaming Revenue Tracker Release

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Who: AGA President and CEO Bill Miller and Vice President, Research David Forman

When: Today, February 20, 2024 at 11:30 AM ET/8:30 AM PT

Where: WEBINAR REGISTRATION | PRESS CALL REGISTRATION

For questions about this event or AGA’s Commercial Gaming Revenue Tracker, contact [email protected].

 

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Background

AGA’s Commercial Gaming Revenue Tracker provides state-by-state and cumulative insight into the U.S. commercial gaming industry’s financial performance based on state revenue reports. This issue highlights full-year 2023 figures and Q4 2023 results. Tribal gaming revenue is released annually by the National Indian Gaming Commission.

35 states and the District of Columbia featured operational commercial gaming markets in 2023, including casino gaming, sports betting and iGaming.

AGA’s State of Play Map charts gaming’s economic impact, industry regulations and casino locations on a state-by-state basis for both the commercial and tribal gaming sectors.

 

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AGA President and CEO Bill Miller

2023 Commercial Gaming Revenue Reaches $66.5B, Marking Third-Straight Year of Record Revenue

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Industry Contributes All-Time High $14.4B in State and Local Gaming Taxes.

U.S. commercial gaming revenue reached an annual record of $66.5 billion in 2023, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. The total surpasses 2022’s previous high of $60.5 billion by 10 percent, marking the industry’s third-straight record revenue year.

The year was punctuated by all-time high quarterly revenue of $17.4 billion in Q4 2023, anchored by $6.2 billion in revenue in December, the highest grossing month in industry history.

“From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high,” said AGA President and CEO Bill Miller. “Sustaining our momentum will take unified industry efforts around combating pernicious illegal operators and growing responsible gambling efforts in tandem with the growth of the legal market—both of which the AGA is committed to lead on throughout 2024.”

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The commercial gaming industry continues to evolve, with online gaming making up nearly one-quarter (24.7%) of nationwide commercial gaming revenue in 2023, a new annual high. Looking at each sector:

Traditional Gaming: Brick-and-mortar casino slots and table games grossed a record $49.4 billion in 2023, up 3.3 percent over 2022. On a state level, 19 out of 27 traditional gaming markets saw record annual revenue.
Sports Betting: In 2023, sports betting achieved new records for handle ($119.8B) and sportsbook revenue ($10.9B), up 27.8 and 44.5 percent respectively. This growth was largely fueled by continued maturation across most existing markets as well as several new markets, particularly in Massachusetts and Ohio.

iGaming: 2023 online casino revenue grew 22.9 percent year-over-year to $6.2 billion in the six states with full-scale legal iGaming.

In 2023, 12 of the top 20 commercial casino gaming markets reported revenue growth compared to the previous year, with the top market—the Las Vegas Strip—seeing the strongest year-over-year gains. New Jersey maintained its spot as the second-highest grossing market, while Chicagoland (third) flipped rankings with the Baltimore-Washington, D.C. market (fourth) and Mississippi Gulf Coast (fifth) rounded out the top five.

The commercial gaming industry also contributed more to state and local governments’ coffers than ever in 2023. Throughout the year, commercial gaming operators paid an estimated $14.4 billion in direct gaming revenue taxes, an increase of 9.7 percent year-over-year. The industry also contributes billions of additional tax dollars to states each year in the form of income, sales, payroll and various other corporate taxes.

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“Gaming’s success translates directly to the success of the states, cities and towns in which we operate,” continued Miller. “We are proud to be in 47 U.S. jurisdictions, acting as economic drivers, creating jobs and providing the funding that makes critical public education programs, infrastructure projects, problem gambling resources and more possible.”

Miller will make additional remarks on full-year 2023 commercial gaming revenue figures and preview AGA’s priorities for the year ahead in AGA’s annual State of the Industry webinar on Feb. 20 at 11:30 AM ET/8:30 AM PT.

For additional information about (AGA) Commercial Gaming Revenue Tracker visit americangaming.org

For registration visit bigmarker.com

 

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Gambling in the USA

Gaming Americas Weekly Roundup – February 12-18

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

The Michigan Gaming Control Board (MGCB) announced new efforts to streamline access to help by promoting 1-800-GAMBLER as the state’s primary problem gambling helpline. Operated by the National Council on Problem Gambling (NCPG), the National Problem Gambling Helpline (1-800-GAMBLER) is the largest problem gambling helpline network in the world by call volume, population served and geographic area covered.

The Pokagon Band of Potawatomi’s Four Winds Casinos announced that Mary Smith has been named Chief Operating Officer (COO). Mrs. Smith, who most recently served as Executive Vice President of Casino Operations, assumes the role which was being fulfilled on an interim basis by Clayton Mason, who also serves as Chief Financial Officer for Four Winds Casinos.

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Mohegan Sun Arena was named “Best Casino/Resort Venue of the Year” at the 35th Annual Pollstar Awards. The Pollstar Awards recognise and support the live entertainment business’ most innovative companies, venues, artists, tours and executives. “Best Casino/Resort Venue of the Year” is an inaugural category for the award ceremony, making Mohegan Sun Arena the first to receive the prestigious recognition.

GAN Limited announced that at a special general meeting of its shareholders held on February 13, 2024, GAN shareholders overwhelmingly approved the previously announced merger agreement and merger of GAN and a subsidiary of Sega Sammy Creation (SSC), an affiliate of Sega Sammy Holdings.

Snail Inc., a leading global independent developer and publisher of interactive digital entertainment, announced significant strides with the launch of West Hunt on Nintendo Switch and the introduction of ASA Premium Mods for ARK Survival Ascended. These initiatives underscore Snail Games’ unwavering commitment to continuously improving and enhancing its current portfolio of game titles.

New Partnerships

BetMGM, a leading sports betting and iGaming operator, announced a strategic partnership with X, becoming the social media platform’s exclusive Live Odds Sports Betting partner. The first-of-its-kind partnership between a premier social media brand and a sports betting operator will integrate BetMGM’s odds and branding into X, with each game linking to BetMGM’s website and app.

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Ocean Casino Resort announced its partnership with celebrated chef and restaurateur, Michael Schulson to bring two fine-casual concepts to Ocean’s culinary roster. Opening later this year, Pearl & Mary oyster bar and Samuel’s at Ocean will be located on the lobby level across from The Park.

Churchill Downs Incorporated announced a multi-year agreement naming SAP America Inc. an official signature partner of Churchill Downs Racetrack. SAP, a global market leader in enterprise application software, will be the first official technology partner serving Churchill Downs Racetrack, the Kentucky Derby and Kentucky Oaks.

PlayAGS Inc. announced a partnership with EQL Games, a leading iLottery supplier and content aggregator. AGSi, AGS’ Interactive division, will partner with EQL Games to provide its robust library of unique and engaging real-money online games to U.S. and Canadian iLottery players.

Jackpot Digital Inc. has announced that the Company has signed a licensing agreement with the Saskatchewan Indian Gaming Authority (SIGA) to install the Company’s Jackpot Blitz dealerless poker ETGs. The installations are subject to Jackpot obtaining the customary regulatory and licensing approvals.

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