US Casino Industry Hits Record Revenue of $60 Billion in 2022

The U.S. casino industry experienced its most successful year yet in 2022, earning over $60 billion in revenue from in-person and online gambling, according to figures released by the American Gaming Association, the national trade group for the gambling industry. In-person gambling continues to account for over 80% of the industry’s revenue, while online betting contributed almost a fifth.

The figures exclude revenue from tribal casinos, which will be reported separately. Still, the association’s vice president David Forman estimated that the total U.S. casino industry could exceed $100 billion with an additional $41 billion in revenue from tribal casinos.

Bill Miller, the association’s president and CEO expressed his delight at the industry’s success, saying, “Our industry significantly outpaced expectations in 2022. Simply put, American adults are choosing casino gaming for entertainment in record numbers, benefiting communities and taking market share from the predatory, illegal marketplace.”

The total revenue earned by casinos in 2022 was $60.4 billion, an increase of almost 14% from 2021. David Forman noted that this growth was equivalent to adding another Las Vegas Strip to the U.S. market.

The Las Vegas Strip and Atlantic City remained among the top gambling markets in the country, with the Baltimore-Washington, D.C., Chicago, and Mississippi Gulf coast markets also performing well. The association ranked gambling markets based on their in-person winnings at table games, slot machines, and at-the-counter sports betting but excluded online sports betting and internet casino games.

According to the association, the top 10 gambling markets were the Las Vegas Strip, Atlantic City, Baltimore-Washington D.C., the Chicago region, the Mississippi Gulf coast, New York City, Philadelphia, Detroit, the St. Louis market, and the Boulder Strip in Nevada.

Thirty-two jurisdictions saw increased gambling revenue compared to 2021, with 29 states setting new annual records. This included newly opened markets in Nebraska and Virginia and four states that reported their first full year of revenue: Arizona, Connecticut, Virginia, and Wyoming.
The association predicted that the number of states legalizing sports betting will rise from 36 plus Washington, D.C., to 40 by the end of 2023. Sports betting grew tremendously in 2022, with records set for the total wagered amount and sportsbook revenue.

Online casino revenue grew by 35.2% to $5 billion, with six states offering internet gambling. Bill Miller said five additional states had introduced bills that would legalize internet gambling: Illinois, Indiana, Maryland, New Hampshire, and New York.

The U.S. casino industry’s success in 2022 clearly indicates its continued growth and profitability. As more states consider legalizing gambling, the industry’s future looks bright.