US Casino Demand Persists According to Q3 Earnings from Commerical Casinos and Game Providers

According to the American Gaming Association's (AGA) Commercial Gaming Revenue Tracker, US gaming revenue set a new quarterly record in Q3 at $15.17 billion. The all-time high was two percent higher than the previous record, which was $14.81 billion in Q2 2022.

New Record in Q3

The commercial casino industry in the United States had its best quarter ever, pulling in more than $15 billion from gamblers, according to data revealed on Wednesday. According to AGA, casinos are anticipated to enjoy their best year ever in 2022.

Pent-up demand brought on by the COVID-19 pandemic helped the gaming industry in many states, including Nevada, the wealthiest and most important state for the US commercial gaming industry, significantly in 2021 and throughout much of 2022. Since things have resumed their usual course, a few states have recorded GGR, including Nevada, New Jersey, Pennsylvania, Michigan, Maryland, and Ohio.

The group noted that in Q3, the sports industry's yearly growth rate of 8.8% outpaced the US economy's general quarterly growth rate of 2.6%. Despite there being two fewer weekdays this quarter than last, American gaming revenue has officially surpassed $15 billion for the first time in a quarter.

All gaming income categories saw year-over-year growth, with iGaming breaking previous records. Land-based slots and table games, which generated a record $12.27 billion in Q3 - up 1.8% from Q3 2021 - continue to be the industry's primary source of revenue growth. The verticals' combined annual revenue was $35.94 billion, an increase of 8.1% from the previous year.

Today, more states allow regulated sports betting than states that do not. More than 30 states have legal sportsbooks that are in operation. iGaming, or the legal online gaming of interactive slots and table games, is still only permitted in six jurisdictions. However, those businesses continue to draw in new participants.

Promising Growth from Online Game Provider EveryMatrix

EveryMatrix, a B2B iGaming technology supplier recently debuted in USA, reports positive third-quarter 2022 results. In its press statement, the company highlights a solid quarter in sales, two global operator launches, and a strong cash balance in addition to the financial performance across all business categories (Casino, Sports, and Platform) compared to the same period in 2021.

With a 4-year CAGR of 35%, gross profit (gross revenue less direct costs to game suppliers) climbed by 33% Y/Y in Q3 2022 to €16.8 million (14.9) EveryMatrix is currently absorbing the full impact of Germany, and the robust comparable numbers demonstrate the core business' ongoing expansion.

Due to the company's continued reinvesting of positive cash flow into future expansion, EBITDA climbed to €6.4 million (5.2). The business's game segment and U.S. expansion continue to require significant investments. After successful cost control and profit growth, the EBITDA/Gross Profit margin increased to 38%.