USA Casinos are BoomingWhile the casino industry in Canada is thriving, it's no secret that this momentum is seen all over North America.
Without a doubt, U.S. casinos hit the jackpot in 2023, pulling in a mind-boggling $66.5 billion, a thrilling milestone for the industry. American casino operators almost touched the $110 billion mark in total gambling revenues – a notable 10% jump from the previous record-smashing year of 2022.
Nevada Gamblers Running Out of Luck
In 2023, Nevada's gambling hotspots alone made over $15 billion from less fortunate gamblers, according to the Gaming Control Board, with December showering them with $1.43 billion revenues. Despite easing inflation, betting enthusiasts were more than ready to enjoy the casino scene.
Many attribute the spike in casino takings to a revived enthusiasm for gambling post-COVID. Moreover, big events like the November Formula One Grand Prix, the unveiling of the $2.3 billion Sphere, and the December 13 opening of the Fontainebleau Hotel and Casino played their roles.
A Busy Christmas
The busy pre-holiday shopping frenzy didn't deter gamblers, as casinos raked in unprecedented winnings of $6.2 billion in December and $17.4 billion by the end of the fourth quarter of 2023. Jane Bokunewicz from Stockton University touched on sports betting allure, highlighting its affordability and flexible betting options.
Though traditional in-person gambling remains a cornerstone, with slot machines earning $35.51 billion in 2023 (a 3.8% bump) and table games bringing in $10.31 billion (up 3.5%), sports wagering experienced a boom, hauling in $10.92 billion in revenues – a massive 44.5% rise. Americans legally bet an astounding $119.84 billion on sports, up 27.8% from 2022.
The Top Gambling Markets
Nevada held firm as the premier U.S. gambling hub, generating $15.5 billion. Close behind was Pennsylvania with $5.86 billion, followed by Atlantic City at $5.77 billion. New York claimed fourth place with $4.71 billion, while Michigan followed with $3.58 billion, then Ohio at $3.31 billion, Indiana with $2.82 billion, Louisiana at $2.69 billion, and Illinois at $2.52 billion.
In an impressive comeback, New York's Resorts World regained its position as the leading U.S. casino outside Nevada, with MGM National Harbor near Washington, D.C., Encore Boston Harbor, and the Borgata in Atlantic City not far behind.
Although there were revenue dips in Florida (-0.4%), Indiana (-2.3%), and Mississippi (-3.5%), the vast majority, 31 out of 35 states with commercial casinos, saw revenue gains last year – marking a prosperous period for many.
Last Updated: April 8, 2024
