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US Industrial Gaming Revenue Passes $14bn in Q1, Breaking Preceding Record

US Industrial Gaming Income Passes $14bn in Q1, Breaking Preceding Record

Powerful commence to 2022

The US industrial gaming marketplace has had an explosive commence to the year. The American Gaming Association (AGA) highlighted figures on Wednesday, revealing $14.31bn in total industrial gaming revenue nationwide for the very first quarter. It is a new record for the initial 3 months of a year and is close to surpassing the $14.35bn record quarterly revenue total, set in Q4 final year.&nbsp

create on the industry’s record year in 2021

AGA CEO and president Bill Miller believes that powerful Q1 results “build on the industry’s record year in 2021 regardless of continued headwinds from provide chain constraints, labor shortages, and the effect of soaring inflation.” He also spoke about the continuing success of sports betting and how licensed sportsbooks are assisting to stamp out illegal offshore operations “who prey on vulnerable customers.”

Impressive numbers

The Q1 revenue total represents an almost 29% year-on-year rise. Of the 34 industrial gaming jurisdictions in the nation, 32 of them beat their income total from Q1 2021. New York, Florida, and Arkansas hit quarterly records. In March, revenue reached $5.31bn, an all-time higher for a single month.&nbsp

The AGA is the main national trade group for the industrial gaming sector.

iGaming and sports betting revenue development continue to be quite powerful, both creating all-time higher totals in a single quarter. Sports betting gross gaming revenue (GGR) was $1.58bn, a 65% year-on-year rise, while iGaming GGR was up 54% to $1.21bn. By far the most significant income generator remains slot machines, contributing $eight.19bn of the $14.31bn total.

Developing on last year’s achievement

Also on Wednesday, the AGA released its “State of the States” report, which appears at the commercial gaming industry’s recovery last year from COVID-19 pandemic woes. In 2021, industrial gaming revenue was a record $53bn, smashing the previous record from 2019 by 21.5%. These operations contributed direct tax revenue of $11.7bn to local and state governments final year, a 75% year-on-year rise.

Most tax income from gambling-related revenue goes towards funding essential public applications like healthcare and education, as nicely as helping boost infrastructure and fund gambling addiction help solutions.

Unsurprisingly, the Las Vegas Strip ruled the roost in terms of the top-performing commercial gaming markets, followed by Atlantic City and Chicagoland. The launch of seven new sports betting markets and two new iGaming markets helped to hit the lofty total revenue sums.

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