While some industries are currently experiencing an economic slowdown, US online casinos aren’t bothered.
The American Gaming Association ‘s latest release for the second quarter of 2022 says the total of all commercial gambling activity across the US hit a new high across the quarter that ended in July 2022. While brick-and-mortar casinos still represent the greatest part of that sum, online casinos are keeping pace in their own right.
Industries that are adjacent to casinos and gambling, including hospitality and food service, have seen repeated labor shortage issues that often affect their profits, but not so for the casino industry. US online casinos surpass record at first opportunity
The first three months of this year were a stellar showing for US online casinos. However, the second quarter was just a tad bit better. All this comes as Business Insider reported that seven out of 10 restaurant operators say they don’t have enough labor to meet demands and Globe St. shared a poll of hotel managers in which 97% of them shared they can’t fill open positions.
The AGA’s revenue tracker shows online casinos and online poker play across the six states in which they are legal in the US produced $1.21 billion in gross revenue in Q2 2022. Gross revenue is essentially the difference between the money that’s gambled on casino apps and the payouts those casinos make.
That $1.21 billion is an improvement of over 34% from the second quarter of 2021. It’s just a slight improvement of a few million dollars over Q1 of this year, though.
Still, that quarter-over-quarter comparison shouldn’t dampen the spirits of any online casino operators. The AGA also says for the first half of 2022, the total of $2.42 billion in online casino revenue is an increase of 43.5% as compared to the first half of 2021.
This performance contributed to an all-time best quarter for all commercial gaming across the country. For example, two of the six states that allow at least some online casino play, Nevada and Pennsylvania , reported their best overall quarters ever. Retail casinos in the US cashed in, too
The fears […]
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