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:2024-12-23 23:58:09
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! (25)
Related
- BITFII Introduce
- Iran holds first parliamentary election since 2022 mass protests, amid calls for boycott
- 'Dancing With the Stars' Maks Chmerkovskiy on turning 'So You Think You Can Dance' judge
- 2024 MLS All-Star Game set for July vs. Liga MX. Tickets on sale soon. Here's where to buy
- Teachers in 3 Massachusetts communities continue strike over pay, paid parental leave
- Girl Scouts were told to stop bracelet-making fundraiser for kids in Gaza. Now they can’t keep up
- Tennessee, Houston headline winners and losers from men's basketball weekend
- Former Trump CFO Allen Weisselberg pleads guilty to perjury in ex-president’s civil fraud trial
- Manhattan rooftop fire sends plumes of dark smoke into skyline
- Congressional candidates jump onto ballot as qualifying begins for 2024 Georgia races
Ranking
- FC Cincinnati player Marco Angulo dies at 22 after injuries from October crash
- Scientists have used cells from fluid drawn during pregnancy to grow mini lungs and other organs
- They all won an Academy Award for best actress. But who is really best? Our ranking
- U.S. Sen. Kevin Cramer’s son pleads not guilty to charges for events before fatal North Dakota chase
- Satire publication The Onion buys Alex Jones’ Infowars at auction with help from Sandy Hook families
- Latest attempt to chip away at ‘Obamacare’ questions preventive health care
- Survivors say opportunities were missed that could have prevented Maine’s worst-ever mass shooting
- Emma Hemming Willis shares video about Bruce Willis' life after diagnosis: It's filled with joy.
Recommendation
-
AI could help scale humanitarian responses. But it could also have big downsides
-
The owners of a Christian boarding school in Missouri are jailed and charged with kidnapping crimes
-
Tennessee, Houston headline winners and losers from men's basketball weekend
-
Minnesota is poised to give school resource officers clearer authority to use force
-
We Can Tell You How to Get to Sesame Street—and Even More Secrets About the Beloved Show
-
This oral history of the 'Village Voice' captures its creativity and rebelliousness
-
Israel faces mounting condemnation over killing of Palestinians in Gaza City aid distribution melee
-
Macy's receives a higher buyout offer of $6.6 billion after rejecting investors' earlier bid
Like
- In an AP interview, the next Los Angeles DA says he’ll go after low-level nonviolent crimes
- Teenager dead, 4 other people wounded in shooting at Philadelphia bus stop, police say
- In 1807, a ship was seized by the British navy, the crew jailed and the cargo taken. Archivists just opened the packages.