American Gaming Association President and CEO Bill Miller was greeted like a rock star Tuesday when he took the stage for his “State of the Union” address at the Global Gaming Expo in Las Vegas. Perhaps his star isn’t quite as bright as U2, which is in the midst of a residency at the nearby Sphere. Then again, the beloved Irish rockers aren’t presiding over an industry that has witnessed 10 consecutive quarters of growth.
“This powerful momentum is happening across the board,” Miller said. “Brick-and-mortar, manufacturing, mobile sports betting, and igaming are all driving the industry to historic highs.”
The AGA recently released its “Gaming Industry Outlook,” a survey of 33 CEOs from the industry who relayed their thoughts about the current state of gaming in the U.S. Miller noted the executives are “cautiously optimistic about the future. They’re paying close attention to headwinds that could possibly impact our incredible growth.”
But there are concerns, including economic uncertainty and the possibility of a recession; a drag on the economy due to high interest rates, especially the increased cost of capital; and tougher year-over-year comparisons because of the recent performance. “Despite these macro issues, we’re stronger than ever. Gaming has never been more popular with American consumers.”
Miller said the AGA surveyed American adults and 49 percent said they’d gambled in the past year. “The more that people engage with our products and visit our properties, they not only have a good time, they also see us for who we are: strong economic and community partners.”
Approximately 71% of those adults, according to Miller, are aware of the gaming-industry’s positive economic impact, up 17 percent from a survey done before the pandemic. And 77% of those adults think gaming creates “high-quality, well-paying jobs,” Miller said, “something all of us know very well.”
Miller also touted the industry’s promotion of responsible-gaming measures. He stated that 84% of gamblers and 94% of sports bettors are aware of responsible-gaming resources.
“These record-high levels of support for gaming, and our commitment to responsible play, are driving a wave of expansion,” Miller said.
According to Miller, 12 new brick-and-mortar casinos have opened in the U.S. since G2E 2022, resulting in more than 1,000 properties in the country for the first time. He also noted that the repeal of the Professional and Amateur Sports Protection Act is five years old and is responsible for “the explosive growth of sports betting and the massive movement of consumers into the legal regulated market.
Currently, 35 states and the District of Columbia offer legal, regulated, sports betting, with three more scheduled to come online soon. Also, revenue from igaming is up more than 20% compared to 2022.
Noting the global growth in gaming – Miller cited MGM Resorts’s construction of the first gaming resort in Japan, Brazil’s impending legalization of gambling, and Wynn’s forthcoming property in the United Arab Emirates – as indicators of the industry’s global health.
“So why is this happening?” Miller asked. “Because we’ve designed a successful blueprint, an approach that creates a sustainable thriving business, that drives growth and delivers meaningful impact in communities, and has earned broad support among consumers, legislators, and regulators.
“This blueprint is American-made and it’s being embraced all over the world.”
