Casinos in the United States have more than recovered from the deepest shallows of the COVID-19 pandemic.
The Americans Gaming Association (AGA) announces that commercial casinos recorded their best quarter ever July through September.
Gross gaming revenue (GGR) in the 25 states that offer retail sports betting totaled $13.89 billion. That is a 53.2% increase on Q3 last year and 24.7% more than the same three months in 2019.
The third quarter of 2021 was the best three months in US history’s legal, commercial sports betting. It outwitted the last all-time GGR record of $13.6 billion, set only in the second quarter of this year.
“Two straight quarters of record gaming revenue is an incredible accomplishment in any context, let alone after the most challenging year in industry history,”
Bill Miller, AGA President, and CEO said.
“Our recovery is not a flash in the pan, but rather a sustained result of our leadership in responsible reopening, world-class entertainment offerings, and widespread favorability.”
The AGA is the gaming industry’s state trade union. Hard Rock International Chairman Jim Allen is expected to take over its board chairmanship in early 2022.
All verticals scaling
Gaming’s strongest rebound early this year was originally fueled by mobile sports wagering and iGaming.
The expanded sports betting, which did not exist greatly in prior years, thrived during the COVID-19 pandemic, as Americans were restrained to their homes. That energy has continued, as land-based gaming has resumed as well.
Brick-and-mortar slot win is up better than 15% in 2019, and revenue from table games is 10% more.
Ten of the 25 states with commercial gaming reported high GGR in the third quarter. The Las Vegas Strip also earned its best three-month time ever, casinos there winning roughly $2.06 billion.
“With brick-and-mortar gaming setting records, the expansion into new verticals, and domestic and international tourism recovering, the industry is in a strong position for a full recovery,”
Miller said.
“I’m confident that the return of meetings, conventions, and international travel will further accelerate gaming’s recovery in 2022.”
Nevada showed the way in Q3 GGR at $3.68 billion. New Jersey ranked second at $1.33 billion, while Pennsylvania was third at $1.26 billion. New York was fourth at $756 million, while Indiana closed out the top five at $712.9 million.
Last year, the US commercial casinos delivered tax revenue of $6.68 billion to state and local governments.
Sure Bet: 2021 GGR record
With three months of gaming revenues to go, the AGA states 2021 will be the best year ever for US casinos. The total win stands at $38.67 billion through three quarters, already more than 2020’s full-year $30 billion wins.
The AGA predicts that 2021 will easily surpass the industry’s record GGR year of $43.65 billion, set in 2019.
The industry continues to expand into new markets. Commercial gaming has recently launched or is soon expected to commence in several states, including Virginia, Connecticut, Wyoming, and Arizona, through either new casinos or online sports wagering expansion.
The industry’s COVID-19 rebound is nothing short of a show. It was just in 2020 that the industry missed out on approximately 45,600 running days due to state-ordered closures, and tens of thousands of casino resort employees were laid off.
Some of the industry’s largest leaders, including Wynn Resorts CEO Matt Maddox and D Las Vegas and Circa owner Derek Stevens, have foreseen 2021 and beyond will be similar to the Roaring 1920s. The Q1 GGR figures seem to suggest that might precisely be the case.
While gaming reported a major positive, the AGA cautioned that commercial casinos struggle in their other business segments.
Last Updated on by Ryan
