EILERS: N. America Revenue Brief – 1Q22

Based on reported figures and our proprietary estimates, we estimate total U.S. & Canada Gaming Revenue increased +26% y/y to $28.1 billion in 1Q22. Compared with 1Q19, gaming revenue increased +20% and was likely the third strongest period for US/Canada gambling revenue, following 3Q21 & 4Q21. Results were driven by still strong macro-economic tailwinds and expanded gambling offerings (sports betting, iGaming, Route Ops growth).