U.S. casinos won $66.5B in 2023, their best year ever as gamblers showed no economic fear
New figures from the gambling industry show America's commercial casinos won more than $66 billion from gamblers in 2023, the industry’s best year ever
U.S. casinos won $66.5B in 2023, their best year ever as gamblers showed no economic fear
Show all 6Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.America's commercial casinos won $66.5 billion from gamblers in 2023, the industry's best year ever, according to figures released by its national trade association Tuesday.
The American Gaming Association said that total was 10% higher than in 2022, which itself was a record-setting year.
When revenue figures from tribal-owned casinos are released separately later this year, they are expected to show that overall casino gambling brought in close to $110 billion to U.S. casino operators in 2023.
That all happened in a year in which inflation, while receding, still kept things like grocery and energy costs higher than they had been.
“From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high,” said Bill Miller, the association's president and CEO.
Not even the pre-holiday shopping crunch discouraged gamblers from laying their money down: casinos won $6.2 billion in December and $17.4 billion in the fourth quarter of 2023, both of which set records.
In-person gambling remains the bread and butter of the industry. Slot machines brought in $35.51 billion in 2023, an increase of 3.8% from the previous year. Table games brought in $10.31 billion, up 3.5%.
Sports betting generated $10.92 billion in revenue, up 44.5%. Americans legally wagered $119.84 billion on sports, up 27.8% from the previous year.
Five new sports betting markets that became operational in 2023 — Kentucky, Maine, Massachusetts, Nebraska and Ohio — contributed to that and generated a combined $1.49 billion in revenue.
By the end of the year, Massachusetts and Ohio established themselves among the country’s top 10 sports betting states by revenue, New Jersey and Illinois exceeded $1 billion in annual sports betting revenue for the first time, and New York topped all states with $1.69 billion.
Internet gambling generated $6.17 billion, up 22.9%. While Michigan and New Jersey each generated $1.92 billion in annual internet gambling revenue, Michigan outperformed New Jersey by just $115,500 to become the largest internet gambling market in the country. Pennsylvania was third with $1.74 billion in annual revenue.
Other states offering internet gambling are Connecticut, West Virginia and Delaware; Nevada offers online poker only.
Casinos paid an estimated $14.42 billion in gambling taxes last year, up 9.7% from the previous year.
Nevada remains the nation's top gambling market, with $15.5 billion in revenue. Pennsylvania is second at $5.86 billion, followed closely by Atlantic City at $5.77 billion.
New York is fourth at $4.71 billion, followed by Michigan at $3.58 billion; Ohio at $3.31 billion; Indiana at $2.82 billion; Louisiana at $2.69 billion and Illinois at $2.52 billion.
New York's Resorts World casino reclaimed the title as the top-performing U.S. casino outside Nevada. It was followed by MGM National Harbor near Washington, D.C., Encore Boston Harbor and Atlantic City's Borgata.
Of the 35 states that have commercial casinos, 31 saw revenue increase last year.
Jurisdictions where revenue declined were Florida (-0.4%); Indiana (-2.3%) and Mississippi (-3.5%). The sports betting-only market of Washington, D.C., had a more significant decline, with revenue trailing 2022 by 17.6%, the largest drop in the country.
___
Follow Wayne Parry on X, formerly Twitter, at www.twitter.com/WayneParryAC.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.