Based on reported figures and our proprietary estimates, we estimate total U.S. & Canada Gaming Revenue increased +50% y/y to $29.1 billion in 4Q21. Compared with 4Q19, gaming revenue increased +21% and was likely the second strongest period for US/Canada gambling revenue, following last quarter. Results were driven by easing social restrictions, strong macro-economic tailwinds, and expanded gambling offerings (sports betting, iGaming, Route Ops growth).
