Current:Home > FinanceU.S. casinos won $66.5B in 2023, their best year ever as gamblers showed no economic fear-LoTradeCoin
U.S. casinos won $66.5B in 2023, their best year ever as gamblers showed no economic fear
View Date:2024-12-24 07:04:13
ATLANTIC CITY, N.J. (AP) — America’s commercial casinos won $66.5 billion from gamblers in 2023, the industry’s best year ever, according to figures released by its national trade association Tuesday.
The American Gaming Association said that total was 10% higher than in 2022, which itself was a record-setting year.
When revenue figures from tribal-owned casinos are released separately later this year, they are expected to show that overall casino gambling brought in close to $110 billion to U.S. casino operators in 2023.
That all happened in a year in which inflation, while receding, still kept things like grocery and energy costs higher than they had been.
“From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high,” said Bill Miller, the association’s president and CEO.
Not even the pre-holiday shopping crunch discouraged gamblers from laying their money down: casinos won $6.2 billion in December and $17.4 billion in the fourth quarter of 2023, both of which set records.
In-person gambling remains the bread and butter of the industry. Slot machines brought in $35.51 billion in 2023, an increase of 3.8% from the previous year. Table games brought in $10.31 billion, up 3.5%.
Sports betting generated $10.92 billion in revenue, up 44.5%. Americans legally wagered $119.84 billion on sports, up 27.8% from the previous year.
Five new sports betting markets that became operational in 2023 — Kentucky, Maine, Massachusetts, Nebraska and Ohio — contributed to that and generated a combined $1.49 billion in revenue.
By the end of the year, Massachusetts and Ohio established themselves among the country’s top 10 sports betting states by revenue, New Jersey and Illinois exceeded $1 billion in annual sports betting revenue for the first time, and New York topped all states with $1.69 billion.
Internet gambling generated $6.17 billion, up 22.9%. While Michigan and New Jersey each generated $1.92 billion in annual internet gambling revenue, Michigan outperformed New Jersey by just $115,500 to become the largest internet gambling market in the country. Pennsylvania was third with $1.74 billion in annual revenue.
Other states offering internet gambling are Connecticut, West Virginia and Delaware; Nevada offers online poker only.
Casinos paid an estimated $14.42 billion in gambling taxes last year, up 9.7% from the previous year.
Nevada remains the nation’s top gambling market, with $15.5 billion in revenue. Pennsylvania is second at $5.86 billion, followed closely by Atlantic City at $5.77 billion.
New York is fourth at $4.71 billion, followed by 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 the title as the top-performing U.S. casino outside Nevada. It was followed by MGM National Harbor near Washington, D.C., Encore Boston Harbor and Atlantic City’s Borgata.
Of the 35 states that have commercial casinos, 31 saw revenue increase last year.
Jurisdictions where revenue declined were Florida (-0.4%); Indiana (-2.3%) and Mississippi (-3.5%). The sports betting-only market of Washington, D.C., had a more significant decline, with revenue trailing 2022 by 17.6%, the largest drop in the country.
___
Follow Wayne Parry on X, formerly Twitter, at www.twitter.com/WayneParryAC.
veryGood! (5699)
Related
- Wendi McLendon-Covey talks NBC sitcom 'St. Denis Medical' and hospital humor
- A SCOTUS nursing home case could limit the rights of millions of patients
- Robert De Niro Speaks Out After Welcoming Baby No. 7
- Play explicit music at work? That could amount to harassment, court rules
- Mike Tomlin's widely questioned QB switch to Russell Wilson has quieted Steelers' critics
- The Little Mermaid's Halle Bailey Makes a Stylish Splash With Liquid Gown
- African scientists say Western aid to fight pandemic is backfiring. Here's their plan
- Los Angeles county DA's office quits Twitter due to vicious homophobic attacks not removed by social media platform
- Melissa Gilbert recalls 'painful' final moment with 'Little House' co-star Michael Landon
- A stranger noticed Jackie Briggs' birthmark. It saved her life
Ranking
- Surprise bids revive hope for offshore wind in Gulf of Mexico after feds cancel lease sale
- Prospect of Chinese spy base in Cuba unsettles Washington
- Wimbledon will allow women to wear colored undershorts, in nod to period concerns
- Play explicit music at work? That could amount to harassment, court rules
- Todd Golden to continue as Florida basketball coach despite sexual harassment probe
- Is the IOGCC, Created by Congress in 1935, Now a Secret Oil and Gas Lobby?
- Florida woman who fatally shot neighbor called victim's children the n-word and Black slave, arrest report says
- Yes, Color Correction for Your Teeth Is a Thing: Check Out This Product With 6,700+ 5-Star Reviews
Recommendation
-
25 monkeys caught but more still missing after escape from research facility in SC
-
Science Couldn't Save Her, So She Became A Scientist
-
Why Andy Cohen Was Very Surprised by Kim Zolciak and Kroy Biermann's Divorce
-
Kellie Pickler’s Husband Kyle Jacobs' Cause of Death Confirmed by Autopsy
-
New Jersey will issue a drought warning after driest October ever and as wildfires rage
-
Justice Department unseals Donald Trump indictment — and reveals the charges against him
-
Montana voters reject so-called 'Born Alive' ballot measure
-
A Major Fossil Fuel State Is Joining RGGI, the Northeast’s Carbon Market