In the United States and the American Gaming Association trade group has announced that the nation’s aggregated commercial land-based and online gross gaming and sportsbetting revenues for May increased by 9.5% year-on-year to hit a record high of $5.1 billion.
The advocacy organization used an official Thursday press release to declare that March, April and May were ‘the three best gaming months in industry history’ with each surpassing $5 billion in combined gaming revenues ‘despite macroeconomic challenges and increasingly tougher year-on-year comparisons’. It also stated that this bodes well for the full-year tally with the aggregated five-month figure having swelled by 21% to hit nearly $24.5 billion in spite of challenges including ‘supply chain issues, labor shortages and inflation’.
Back to the month of May and the American Gaming Association disclosed that aggregated revenues were relatively flat sequentially as land-based gaming receipts grew by just 1.5% month-on-month to about $3.8 billion. It explained that the same 31-day period saw sportsbetting returns book a comparable 5.1% rise to some $555 million while iGaming activities contracted by 2.4% to approximately $406.4 million.
The American Gaming Association divulged that the state of Nevada led the way in May with aggregated online and land-based gaming revenues of slightly over $1.3 billion, which represented an upturn of 5.7% year-on-year. This was followed by Pennsylvania, New Jersey and New York as all three booked at least 9% surges to hit $455.4 million, $430.6 million and $356.3 million respectively.
To further highlight the speed of recovery and the American Gaming Association furthermore pronounced that only four jurisdictions were ‘behind their gaming revenues pace at the start of 2021’ in Mississippi, Kansas, South Dakota and the District of Columbia. The organization additionally asserted that the May performance of this former trio was largely reflective of ‘tougher than average comparisons’ as they had eased their coronavirus-related restrictions earlier than most others.
The American Gaming Association detailed that land-based slots and gaming tables combined for slightly over $4.1 billion in nationwide May revenues, which equated to an escalation of 1.4% year-on-year. It stated that this had pushed the year-to-date figure up by 13.9% to north of $19.7 billion as 22 of 25 states experienced comparable rises.
Regarding online and retail sportsbetting and the American Gaming Associated confirmed that aggregated May revenues from operations in 26 states had reached $555 million. The group went on to acknowledge that this represented a gain of 78.2% year-on-year and took the five-month tally up by 78% to $2.7 billion.
Finally, the American Gaming Association revealed that combined May iGaming revenues from operations in West Virginia, Delaware, Pennsylvania, Connecticut, New Jersey and Michigan had reached $406.4 million, which equated to an escalation of 30.9% year-on-year. Taken together and the organization affirmed that these receipts and their sportsbetting counterparts had accounted for 18.9% of the nation’s overall commercial gaming revenues tally.