The commercial gaming industry in the United States has experienced a remarkable surge in revenue, marking its third consecutive year of record-breaking financial success. According to the latest report from the American Gaming Association (AGA), the industry’s annual revenue reached an unprecedented $66.5 billion in 2023, surpassing the previous year’s high by a substantial margin.

AGA CEO Bill Miller Applauds Milestone Growth

The remarkable growth was highlighted by a record-breaking fourth quarter in 2023, with revenues soaring to $17.4 billion, further solidifying the industry’s position as a key contributor to the nation’s economy. December alone witnessed an astonishing $6.2 billion in revenue, marking the highest-grossing month in the history of the industry.

AGA President and CEO, Bill Miller, attributed this phenomenal success to the burgeoning demand for gaming among American adults. Miller emphasized that the industry’s ability to sustain this momentum would require collaborative efforts to combat illegal operators while simultaneously promoting responsible gambling initiatives. He stressed the AGA’s commitment to leading these efforts throughout 2024.

The evolution of the commercial gaming landscape was evident in the report, with online gaming emerging as a significant contributor, accounting for nearly a quarter or 24.7% of total commercial gaming revenue in 2023, reaching a new annual high. 

Gaming Revenue Booms Across Traditional Gambling, Sports Betting, and iGaming

Across multiple sectors, significant growth was evident. In traditional gaming, revenue from brick-and-mortar casinos surged to $49.4 billion, with a notable 19 out of 27 markets achieving record annual revenue. 

The sports betting sector experienced remarkable expansion, as total wagers peaked at $119.8 billion and revenue reached $10.9 billion, fueled by maturation in existing markets and entry into new territories like Massachusetts and Ohio. 

Meanwhile, iGaming saw a substantial uptick, with online casino revenue jumping by 22.9% to $6.2 billion in states with fully legalized online gaming.

The report also highlighted the geographic distribution of gaming revenue, with notable growth observed in various markets. The Las Vegas Strip emerged as the top-performing market, followed by New Jersey, Chicago metropolitan area, and the Mississippi Gulf Coast.

Furthermore, the commercial gaming industry’s contributions to state and local governments reached unprecedented levels in 2023, with operators paying an estimated $14.4 billion in direct gaming revenue taxes—an increase of 9.7% compared to the previous year.

This influx of revenue plays a vital role in supporting critical public services, infrastructure projects, and education programs across the country.As the industry continues to thrive, Miller emphasized its role as an economic driver, creating jobs and providing essential funding for communities nationwide.

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As the festive season approaches, concerns are mounting in Australia’s Northern Territory (NT) over the AUD 15 million ($10.1 million) year-on-year rise in gambling losses among its populace. This trend roughly matches other regions in the country, placing increasing pressure on local authorities and the federal government to implement better player protection policies and curb the growing gambling addiction epidemic.

Gambling Tax Income Comes at a Price

Recent data from the NT’s Department of Industry, Tourism, and Trade exposes the immense daily average of AUD 411,000 ($277,000) poured into poker machines across the region. Nearly half of these losses occurred in Darwin, where 722 pokies operate within 31 venues. This sum amounts to AUD 149 million ($100.42 million)  spent on poker machines in 2022-23, a worrying AUD 15 million increase.

Despite this worrying trend, higher poker machine profits contributed to the NT government’s substantial revenue of AUD 48.4 million ($32.62 million) from gaming machine taxes and an additional AUD 15.1 million ($10.18 million) from a community benefit levy raised by casinos and hotels last fiscal year. While these results underscore the financial significance of gambling within the region, they also caused significant player safety concerns.

Government data showing a recurrent December increase and subsequent January decrease in poker machine losses over the past three years has triggered concerns as welfare groups and researchers believe financial stressors and heightened emotions during the holiday season can be particularly detrimental to vulnerable individuals. These can be especially problematic in a society already struggling with addiction.

The Problem Is Not Isolated to NT

While NT’s gambling losses are impressive, they pale compared to other regions like New South Wales, Queensland, and Victoria, where this figure reaches well into the billions. Kim Caudwell, a senior lecturer in psychology at Charles Darwin University (CDU), told ABC News that Australians had a cultural affinity for gambling, noting that the government’s efforts to curtail this phenomenon were a monumental task.

Australians love to gamble. It’s something that’s very much embedded in our culture.

Kim Caudwell, CDU senior lecturer in psychology

Regions like New South Wales have undertaken extensive measures to combat this worrying trend. The upcoming cashless gambling trial shows substantial promise. If this measure is successful, it will be a significant milestone in Australia’s battle against problem gaming and may inspire other regions to follow suit. While NT has made some efforts to reduce the number of pokies in public venues, its efforts have been largely ineffective.

As concerns escalate, stakeholders urge proactive measures, emphasizing the urgency to support problem gamblers, address the root causes of addiction, and implement comprehensive strategies to counteract the societal impact of excessive gambling. The federal government faces rising pressure for rapid reform, but it cannot do so without the cooperation of local authorities.

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