Which States Have the Biggest Casino Revenues in 2023?
In 2022, the casino industry in the United States saw significant revenues across various states. The thriving casino business can be assessed by examining the gross gaming revenue (in million U.S. dollars) in different states, with Nevada, unsurprisingly, leading the pack.
This article highlights the states with the highest casino revenues, with emphasis on Pennsylvania, Nevada, and New Jersey's robust online and land-based casino markets.
Gross Gaming Revenue by state: top 7 last year
As expected, GGR was the highest in Nevada: It’s going to be a while before another state comes close to catching up to this state’s astonishing figures. However, some states that have recently legalized online casinos are also performing remarkably well in terms of GGR already. Here’s a quick look at the biggest casino markets as of 2022:
Nevada: At the forefront, Nevada recorded an impressive gross gaming revenue of $14,842 million.
Pennsylvania: Following closely, Pennsylvania achieved a gross gaming revenue of $5,343 million.
New Jersey: New Jersey's casinos earned revenue of $5,211 million.
New York: Coming in fourth, New York's casinos accumulated $4,228 million.
Michigan: The state of Michigan posted revenue figures of $3,258 million.
Indiana: Indiana's casino industry managed to gather $2,890 million.
Louisiana: Rounding up the list, Louisiana recorded a revenue of $2,593 million.
Nevada's casino industry report shows the Silver State is still the leader
In May 2023, Nevada’s total gaming revenue reached a staggering $1.28 billion, which, despite the massive sum, represented a decrease of 0.8% from the previous year. The world-famous Las Vegas Strip’s earnings were also down; it generated $715.9 million, down 2.1% year-over-year.
It was only Washoe County that reported higher figures than this time last year. Casinos in Reno, Sparks, and North Lake Tahoe saw a revenue increase of 3.7% year-over-year. In the same period, Clark County’s casinos generated over $1 billion, but were still down 1% on last year.
Nevada’s casino revenue can be broken down as follows:
Slots: $877.8 million
Table, counter, and card games: $411.1 million
Sports betting: $30.1 million, up 11% from 2022. Betting was down 6% to $527 million, with mobile sports betting accounting for 67.9% of all sports betting.
The figures from May 2023 indicate mixed results for Nevada's casino industry; could 2024 be the year that a new player takes the Silver State’s crown as America’s leading casino scene?
While May experienced a slight decline in overall revenue and drops in specific areas like the Las Vegas Strip, the previous month had shown promising increases. These up-and-down results might signify a complex recovery process post-pandemic, reflecting the industry's ongoing efforts to adapt to changing market dynamics and consumer behaviors, as well as the ever-widening legalization of gambling in other states.
Overall, the revenue breakdown, including slots, table games, and sports betting, provides insights into the diversification of gaming activities in the state.
2023: Pennsylvania's milestone year so far
The state of Pennsylvania set a notable milestone in its casino industry, particularly in the online casino sector. The state’s June 2023 revenue was a massive $164.3 million, marking the seventh straight month exceeding $160 million, and the state has also broken three iGaming records over this period. At the same time, PA online casinos have already surpassed the $1 billion yearly revenue mark. Already the state is well on its way to catching up to Nevada’s massive figures despite only recently opening up the casino industry.
Even a down month in June saw Pennsylvania beat out New Jersey, which posted $149.3 million in revenue. NJ has long been one of the best-performing casino states, and is generally considered the second-most-popular gambling destination after Nevada. But, it seems like 2023 could be the year that things change for the Garden State.
Here’s Pennsylvania’s casino revenue breakdown for June 2023:
- Online slots revenue: $127.1 million
- Table games revenue: $34.8 million
- Online poker revenue: $2.4 million
Pennsylvania's consistent performance has been praised by experts in the field, who highlight the impressive 30% increase year over year in June. The best-performing sector is slot play, which increased by 32.8%, with slots producing $127.1 million in June, compared to $95.7 million last year.
Overall in 2023, the market is expected to exceed the 2022 revenue total of $1.67 billion, marking continued growth in PA. In fact, several land-based casinos are, as yet, without an online platform. This means that other new sites are likely to launch towards the end of 2023 or in 2024, which could further help drive up PA’s already-impressive casino revenues (source: https://www.sportstalkphilly.com/pa/casinos/new).
New Jersey's casino industry is still thriving in June 2023
New Jersey's gambling sector, which covers casinos, horse tracks that take sports bets, and online gambling, recorded a win of over $457 million in June, marking an increase of nearly 14% from the previous year. The amount won from in-person gamblers in June surpassed the pre-pandemic level, reaching $241 million. However, only two casinos showed higher in-person gambling revenue than in June 2019, pre-pandemic.
James Plousis, chair of the New Jersey Casino Control Commission, remarked on the lasting impact of online gambling and sports betting in the industry, yet casino executives took a more cautious approach. They acknowledged the revenue from online and sports betting, but also pointed out that as much as 70% goes to partners like sportsbooks and tech platforms.
Internet gambling generated nearly $150 million in NJ in June, up 12.1%. At the same time, almost $600 million worth of sports bets were made in June. For betting providers, they earned $66.3 million from this after covering expenses and paying off winning bets.
The figures from June reflect a robust and recovering casino industry in New Jersey. Online gambling and sports betting continue to be strong components, contributing to growth and expansion. The market-leading casinos are showcasing positive trends, while others are still working to regain their footing. The overall picture indicates an industry on the move, adapting to new trends and navigating a post-pandemic landscape.
