Commercial gaming’s strong Q1 boosted by Florida’s $182 million quarterly record

by | May 11, 2022

 

Nationwide commercial gaming is off to a hot start in 2022, with revenue totaling $14.31 billion in Q1 2022, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker.

AGA, the gambling industry’s national trade group, said Wednesday that the nationwide revenue from traditional casino games, sports betting and iGaming set a new Q1 record that fell just short of the single-quarter record set in Q4 2021 ($14.35 billion). AGA also noted that U.S. commercial casinos cleaned up in March, bringing in more than $5.3 billion from gamblers, marking the single highest-grossing revenue month in commercial gaming history. The previous record month was July 2021 at $4.92 billion.

“Consumers continue to seek out gaming’s entertainment options in record numbers,” said AGA President and CEO Bill Miller. “Q1’s strong results build on the industry’s record year in 2021 despite continued headwinds from supply chain constraints, labor shortages, and the impact of soaring inflation.”

Q1 2022 Commercial Gaming Revenue

A deeper dive into the U.S. gaming industry shows that total commercial gaming revenue for Q1 2022 increased nearly 29 percent year-over-year. Almost every (32 of 34) commercial gaming jurisdiction surpassed Q1 revenue from last year, with three states — New York, Florida, and Arkansas — setting quarterly records.

New York ranked as the leading U.S. sports betting market after hitting a quarterly record of $996.6 million. The Empire State’s near billion-dollar quarter was largely fueled by the January roll-out of online sports betting, which elevated New York’s gaming market from sixth in the country in Q4 to No. 4 in Q1 2022.

The Sunshine State also boasted an all-time quarterly record thanks to a $182 million haul in the first quarter, 26.8% higher than Q1 2021.

Wednesday’s numbers do not include tribal casinos, which report their income separately and are expected to report similarly positive results.

AGA also released its annual State of the States report on Wednesday, which explores the state-by-state impact of the casino gaming industry across the country. Notably, 2021 set a new annual record for commercial gaming, reaching $53.03 billion — up 21.5 percent from the previous high in 2019, before the pandemic.

The report also highlighted the 7.55 billion economic impact that Florida brings to the industry — largely driven by the state’s tribal casinos. Florida’s 15 total casinos support over 54,000 jobs statewide, according to the fact sheet.

Additionally, the State of the States report ranked the largest casino markets in the US in terms of revenue for 2021. The top 10 commercial gaming markets last year include Las Vegas Strip at No. 1 ($7.05 billion), Atlantic City at No. 2 ($2.57 billion), Chicagoland at No. 3 ($2.01 billion), Baltimore-Washington D.C. at No. 4 ($2 billion), Gulf Coast at No. 5 ($1.61 billion), New York City at No. 6 ($1.46 billion), Philadelphia at No. 7 ($1.40 billion), Detroit at No. 8 ($1.29 billion), St. Louis at No. 9 ($1.03 billion), and Boulder Strip at No. 10 ($967 million).

2 Comments

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