US Online Casinos Break Quarterly Revenue Record Again

US Online Casinos Break Quarterly Revenue Record Again

While some industries are experiencing an economic slowdown currently, US online casinos aren’t bothered. The American Gaming Association‘s latest release for the second quarter of 2022 shows that the market conditions impacting food service and hospitality businesses aren’t having an effect on US online gambling.

The AGA says the total of all commercial gambling activity across the US hit a new high across the quarter that ended with July 2022. While brick-and-mortar casinos still represent the greatest part of that sum, online casinos are keeping pace in their own right.

US online casinos surpass record at first opportunity

The first three months of this year were a stellar showing for US online casinos. However, the second quarter was just a tad bit better.

The AGA’s revenue tracker shows online casinos and online poker play across the six states in which they are legal in the US produced $1.21 billion in gross revenue in Q2 2022. That’s an improvement of over 34% from the second quarter of 2021. It’s just a slight improvement of a few million dollars over Q1 of this year, though.

Still, that quarter-over-quarter comparison shouldn’t dampen the spirits of any online casino operators. The AGA also says for the first half of 2022, the total of $2.42 billion in online casino revenue is an increase of 43.5% as compared to the first half of 2021.

This performance contributed to an all-time best quarter for all commercial gaming across the country. For example, two of the six states that allow at least some online casino play, Nevada and Pennsylvania, reported their best overall quarters ever.

Physical casinos in the US cashed in, too

The fears over online casinos cannibalizing retail casino gaming continue to be unfounded. Physical slots and table games from all commercial gambling properties in the US produced a record $11.24 billion in revenue from April through July 2022. The record was for those segments both combined and individually.

That total includes an increase of less than a percent from the first quarter of this year for slots but an impressive uptick of more than 18% on the table games side. For the first half of 2022, the total of $23.67 billion rose nearly nine percent in terms of slots and almost 29% for table games compared to H1 2021.

With revenue from both online and retail sports betting figured in, the second quarter of 2022’s total commercial gaming activity came to $14.81 billion. The AGA says that’s an improvement of more than three percent from Q1. Thus, 2022 remains on pace to become the most lucrative year ever for commercial casinos in the United States.

There’s no guarantee that the third quarter of 2022 will surpass that $14.81 billion mark. However, even if that doesn’t happen, 2022 could still be the single greatest year to be in the gambling business in the United States yet.

Author: Tyler Gutierrez