Business

Record Breaking Year for U.S. Casinos with $66.5 Billion in Winnings in 2023

In a milestone year for the U.S. casino industry, commercial casinos recorded a historic high of $66.5 billion in winnings from gamblers in 2023, marking a 10% increase from the previous record-setting year of 2022, as reported by the American Gaming Association. The figures, released on Tuesday, indicate robust demand for gaming experiences, including both traditional casino settings and online options.

Key highlights from the data include:

  1. Industry Growth: The strong performance of the casino industry in 2023 resulted in a total revenue close to $110 billion when tribal-owned casinos’ figures are included.
  2. Record December and Q4 Earnings: Despite the pre-holiday shopping season, December and the fourth quarter of 2023 set records, with casinos winning $6.2 billion in December and $17.4 billion in Q4.
  3. Sports Betting Surge: Sports betting emerged as a significant contributor to the industry’s success, generating $10.92 billion in revenue, a remarkable increase of 44.5%. The legal sports betting handle reached $119.84 billion, reflecting a 27.8% rise from the previous year.
  4. New Sports Betting Markets: The addition of five new sports betting markets in 2023—Kentucky, Maine, Massachusetts, Nebraska, and Ohio—contributed $1.49 billion in revenue, with Massachusetts and Ohio establishing themselves among the top 10 sports betting states by revenue.
  5. Internet Gambling Growth: Internet gambling experienced notable growth, generating $6.17 billion in revenue, a 22.9% increase. Michigan surpassed New Jersey to become the largest internet gambling market in the country.
  6. Top Gambling Markets: Nevada retained its position as the nation’s top gambling market with $15.5 billion in revenue. Pennsylvania and Atlantic City closely followed, with $5.86 billion and $5.77 billion, respectively.
  7. Tax Contributions: Casinos paid an estimated $14.42 billion in gambling taxes in 2023, marking a 9.7% increase from the previous year.
  8. State-by-State Performance: Among the 35 states with commercial casinos, 31 witnessed an increase in revenue. States with declining revenue included Florida (-0.4%), Indiana (-2.3%), Mississippi (-3.5%), and Washington, D.C., with the largest drop at 17.6%.

The data reflects a thriving and resilient casino industry, with both traditional and emerging forms of gambling contributing to the sector’s unprecedented success in 2023.

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