NIGC Reports Record Gaming Revenue for 2023
Online Gaming Revenue Hits $41.9 Billion
Money keeps pouring in for the National Indian Gaming Commission, which reported record gross online gaming revenue for the previous fiscal year.
The NIGC earned $41.9 billion in FY2023, according to the federal regulatory agency. That surpassed the record of $40.9 billion from the previous year, the results of which were produced from audited statements from 527 gaming operations within 245 tribes over 29 U.S. states. FY2022 was up 5% over 2021.
Despite a significant decline in 2020 because of the COVID-19 pandemic, figures have now risen three straight years.
Expert Pick: Subscribe below to get our Premium Insights!
Expert Pick: Subscribe below to get our Premium Insights!“This year’s gross gaming revenue results demonstrate how a strong regulatory framework and diversity of tribal gaming enterprises generates growth in the gaming industry. Again, this year, tribal gaming operators and regulators have proven that their ingenuity and tenacity are catalysts for growth, even in the face of an ever-changing gaming landscape.” Sharon M. Avery, acting chairwoman of the NIGC, said in a statement.
Here’s more on the 2023 NIGC gross revenue report.
Sacramento Top Revenue-Generator
All eight regions covered by the 2023 NIGC gross revenue report saw growth, none more so than Sacramento. The region, consisting of 87 operations, brought in $11.9 billion. That was up from $11.7 billion the previous year.
The Washington, D.C. region (44 operations) finished with the second-highest gross revenue at $9.1 billion (up 2.4% from FY2023), followed by St. Paul (95 operations) at $5 billion. That marked an increase from $4.9 billion.
Portland, home to 53 operations including federal tribes throughout Oregon, Washington, Idaho, and Alaska, posted $4.5 billion in revenue in FY2023.
Jeannie Hovland, vice chair of the NIGC, said: “I congratulate the industry regulators, operators, and tribal leadership on another successful year. Their hard work in meeting and overcoming the challenges presented by an increasingly competitive market is evidence that tribes are resilient, and their gaming expertise is yielding benefits for their nations as IGRA intended.”
OKC, Phoenix Next in Line
The Oklahoma City, Phoenix, and Tulsa regions all fared similarly, with each finishing just outside the five highest gross revenue generators for gaming in FY2023. Phoenix, which includes 54 operations across Arizona, Colorado, New Mexico, and Nevada, was up 5.5% to $3.9 billion.
Tulsa (74 operations) posted an increase from $3.4 billion to $3.5 billion in FY2023, with Oklahoma City — home to 75 operations, including Texas — a tick behind at $3.2 billion. That’s after reporting $3.1 billion in FY2022.
Rapid City, meanwhile, finished with the lowest gross revenue despite still making gains from the previous year. The region’s 45 operations made $425.8 million, up from $406.1 million.
Given these results, it is reasonable to think betting handle and gross gaming revenue will continue to grow over the next few years. It certainly helps that online gaming is becoming more mainstream across all regions of the country. The reported numbers, in many ways, speak for themself.
Stay tuned for more updates from the 2023 NIGC gross revenue report.
For sports betting picks, odds, and more, visit Point Spreads Sports Magazine.
