The American Gaming Association has released its latest revenue report revealing that casinos in the United States won nearly $39 billion in the first three quarters of 2021 putting the industry on track for its most successful year in history.
The latest figures represent an 18% increase in casino winnings from the same period in 2019 before the pandemic. The report also revealed that the industry has already surpasses total winnings for 2020.
According to the association, the increase in revenue and winnings for the casinos reflect a return to normality as consumers are becoming more comfortable with attending casinos once again. The increase in winnings has also been attributed to the addition of legal sports betting across the United States.
If casinos can maintain this momentum, the industry will likely surpass the record $43.65 billion reported in 2019 before the global pandemic led to widespread closures across the industry.
In the third quarter of 2021, casinos collected nearly $14 billion setting a new record for the most successful quarter in the industry’s history. This was the second quarter in a row to break the quarterly record and there are hopes that the fourth quarter will once again set a new record.
Speaking of the industry’s resurgence, Bill Miller CEO of the American Gaming Association said:
“Two straight quarters of record gaming revenue is an incredible accomplishment in any context, let alone after the most challenging year in industry history. 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.
I’m confident that the return of meetings, conventions and international travel will further accelerate gaming’s recovery in 2022.”
Jane Bokunewicz, director of the Lloyd Levenson Institute at New Jersey’s Stockton University, told Newsweek:
“After a year of restrictions and quarantines, people were anxious to get out and enjoy in-person experiences again,” she said. “The casino industry responded quickly to implement clean and safe protocols providing a welcoming environment to people seeking safe social activities.
The explosive growth of internet gaming during the pandemic engaged a new audience of consumers who may have become curious about brick-and-mortar casinos and the in-person gaming experience,” she added. “Encouraged by casino marketing and loyalty programs they may have decided to try something new.”
The association also revealed that ten of the 25 states that have commercial casinos set records during the third quarter of 2021 with the return of tourism said to be another significant driver of casino revenues. In Nevada, 9.2 million people visited Las Vegas in the third quarter of the year, rising 10% from the second quarter.
Slots and table games made up the lion’s share of third quarter revenue accounting for over $12 billion. Meanwhile internet gaming set a revenue record of $938.6 million. However, sports betting saw a quarterly low for the year of $886.5 million. This was mostly due to a limited sporting calendar prior to the return of both the NBA and NFL.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.