USA Casinos are Booming Whilst the casino scene is certainly doing well in Canada, there is no doubt that this has been the case all across North America.
Indeed, casinos in the U.S. struck gold in 2023, raking in a staggering $66.5 billion, marking the industry’s most exciting year to date. The overall earnings from casino gambling approached nearly $110 billion for U.S. operators in 2023 – a 10% increase compared to the record-breaking year of 2022.
Nevada Gamblers Running Out of Luck
In 2023, Nevada’s casinos alone managed to rake in more than $15 billion from its unluckiest players, as reported by the state’s Gaming Control Board and in December alone they saw earnings of $1.43 billion. It seemed that people were still eager to spend money at the casinos even in a year where inflation, although easing, kept essential expenses, like groceries and energy, higher than ever before.
It is believed that the growth in casino revenue is partly because of a renewed enthusiasm for gambling following the reopening of casinos after COVID-19. On top of this, high-profile events such as the Formula One Grand Prix in November, the launch of the $2.3 billion Sphere, and the opening of the Fontainebleau Hotel and Casino on December 13 have also had an effect on the results.
A Busy Christmas
It seems that even the busy pre-holiday shopping season didn’t put gamblers off, as casinos reported record winnings of $6.2 billion in December and $17.4 billion in the fourth quarter of 2023. Jane Bokunewicz, Director of the Lloyd Levenson Institute at Stockton University in New Jersey, which focuses on the gambling industry, commented on the attractiveness of sports betting, saying that for many in the U.S., sports betting is still a bit of a novelty – and because it can be low cost… and the fact that you can place bets to suit your budget, it’s appealing even for those on a lower income.
While in-person gambling remains the industry’s mainstay – with slot machines bringing in $35.51 billion in 2023 (a 3.8% increase from the previous year) and table games generating $10.31 billion (up 3.5%), sports betting experienced serious growth, generating $10.92 billion in revenue – a huge 44.5% increase. Americans legally wagered $119.84 billion on sports, which was a 27.8% increase from the previous year.
The Top Gambling Markets
Nevada maintained its status as the top gambling market in the U.S., with a revenue of $15.5 billion. In second place came Pennsylvania with $5.86 billion, which was closely followed in third place by Atlantic City at $5.77 billion. New York followed in fourth place with $4.71 billion, and then came Michigan at $3.58 billion, Ohio at $3.31 billion, Indiana at $2.82 billion, Louisiana at $2.69 billion, and Illinois at $2.52 billion.
New York’s Resorts World casino reclaimed its title as the top-performing U.S. casino outside Nevada – followed by MGM National Harbor near Washington, D.C., Encore Boston Harbor, and Atlantic City’s Borgata.
Although Florida (-0.4%), Indiana (-2.3%), and Mississippi (-3.5%) reported declines in revenue, 31 of the 35 states with commercial casinos experienced an increase in revenue last year – so for most it was a very happy year indeed.
Last Updated: April 8, 2024
