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Starting Strong

The latest data from the American Gaming Association (AGA) indicates the gaming industry’s strong start to 2023 is continuing. According to the AGA’s Commercial Gaming Revenue Tracker, nationwide gaming industry win from traditional casino games, sports betting and iGaming reached $5.12 billion in February 2023. This represents the highest February revenue number in history and a 14.5 percent year-over-year increase. It also marks 24 consecutive months of growth and the sixth month in a row with gaming revenue of more than $5 billion.

Gaming revenue grew year-over-year across all verticals in February, though at a slower pace than in January. Land-based casino revenue from slot machines and table games totaled $3.97 billion, sports betting produced $678.7 million, and iGaming produced monthly revenue of $465 million.

Driven largely by the seasonal decline in sports betting revenue, in-person gaming revenue made up a larger share of overall revenue in February (78.5 percent) than it has since last August, prior to the start of football season.

At the state level, 29 of 33 commercial gaming jurisdictions that were operational one year ago and had reported at the time of writing posted year-over-year revenue growth in February. Several of the states that saw revenue declines in February were smaller, idiosyncratic sports betting markets, including Montana (-20.6 percent) and Delaware (-1.7 percent). However, South Dakota (-3 percent) and Louisiana (-3.5 percent) also saw year-over-year revenue fall from last year.

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