US casino profits hit record highs

ATLANTIC CITY, NJ — Commercial casino gaming revenue in the United States totaled more than $60 billion in 2022, an industry record.

Figures released Wednesday by the American Gaming Association show that gambling remains the mainstay of casinos, accounting for more than 80% of their profits. Internet betting accounted for almost a fifth of profits.

Figures do not include tribal casinos, which report their numbers separately.

“Our industry has far exceeded expectations in 2022,” said association president and CEO Bill Miller. “In short, American adults are turning to casino gambling in unprecedented numbers, benefiting communities and robbing illegal and predatory gambling of market share.”

The $60.4 billion raised by casinos last year implies an increase of nearly 14% over what was raised in 2021.

Las Vegas and Atlantic City continue to be the most popular places to play casinos, although those in the region between Baltimore and Washington, DC, those in Chicago, and those on the Mississippi Gulf Coast are also popular.

The association said 84 million adults in the United States, or 34% of the country’s adult population, visited a casino last year, including recently opened casinos in Nebraska and Virginia.

Table games profits increased by 13.9%, while slots increased by 5.1%.

Sports betting also surged in 2022, setting a new record of $93.2 billion. This increase is largely due to Kansas beginning to allow on-site and cellphone betting, and the launch of mobile betting in Louisiana, Maryland and New York.

Internet casino revenue increased 35.2% to $5 billion.