Last Wednesday, the American Gaming Association (AGA) delivered the State of the Industry Webinar, which recapped gaming's second consecutive record-setting revenue year, analyzed the current gaming landscape, and previewed AGA priorities for 2023. AGA President and CEO Bill Miller addressed the commercial and tribal gaming industry: "2022 was a phenomenal year. What's more impressive is we did this while international visitation business travel and conventions were still recovering."
In 2022, consumer demand for gaming was resilient because in-person and online gaming was a top choice for entertainment options. VP of Research David Forman walked through the critical points of the AGA Commercial Gaming Revenue Tracker and highlighted that 2022 was the highest revenue year ever for the commercial U.S. gaming sector, with 469 brick-and-mortar commercial casinos across 27 states. Retail sports betting and iGaming alone generated $60.4 billion in revenue, breaking records set the year before. The research from the tracker showed that Americans collectively bet $93.2 billion with legal sports betting books, driving gaming revenue to $7.5 billion, up 73% from 2021.
The AGA values its strong position in the gaming industry to be able to advocate for priorities. The AGA built trusted relationships with reliable insights and industry knowledge to prove gaming's value to local communities. In 2023, the priorities are to encourage investment through sound tax policy, drive modernization of anti-money laundering regulations, increase international travel to the U.S., and combat the illegal gambling market.
As an industry leader, Pavilion Payments is honored to have played a vital role in this historic achievement. Pavilion Payments innovates the gaming industry by empowering gaming institutions and platforms with the VIP Preferred® ecosystem. Includes VIP Mobility™, the industry's first mobile solution enabling true cashless gaming, VIP Financial Center™, Pavilion Payments' full-service kiosk solution, and VIP Shield™, an all-in-one Title 31 compliance solution covers all aspects of AML compliance. Pavilion Payments proactively improves the gaming industry by providing advanced payment options and promoting responsible gaming habits. These products had a role in the commercial gaming industry's impressive success, and we look forward to paving the way for more achievements in 2023.
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