Tracker reports boosted revenues
The American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker has reported that figures rose significantly from the second quarter to the third quarter of 2020. US commercial gaming sector revenue came in at $9.04bn during Q3, which is still a decrease of 19% when compared to levels from the same time frame last year.
Details of the tracker results were posted on Twitter by the AGA:
Revenues are up 294% from the second quarter, when casinos were closed because of the COVID-19 pandemic. Most every casino in the United States is up and running now, albeit with capacity restrictions and health and safety measures in place.
US commercial gaming sector is recovering
US commercial gaming revenues are still lagging behind due to several factors connected to the pandemic. Casinos must have health and safety measures in place, which includes lower capacity levels and social distancing.
The AGA is reporting that overall, gaming revenue in the US is down 36.5% year-on-year from January through September 2020. Bill Miller, the CEO and President of the AGA, said that the industry is prioritizing the health and safety of employees, patrons, and communities first.
full recovery is dependent on continued public health measures”
“While these quarterly results are promising,” Miller said, “the reality is a full recovery is dependent on continued public health measures to control prevalence rates.”
Miller stated further that as officials respond to outbreaks with more restrictions, Congress needs to take action to provide relief to commercial casinos. The communities associated with casinos, as well as employees, depend on it.
Certain restrictions can affect casino traffic, including non-gaming amenities and services. In Atlantic City, officials have ordered casinos to shut down indoor dining and beverage service after 10pm. Local casinos have already been operating at lower capacity levels, so this is yet another blow to their overall operations.
From July to September, over 100 casinos reopened in the United States. By the end of Q3, 902 commercial and tribal casinos were active in the US, up from about 800 at the start of July. There were signs of revenue growth during Q2, encouraging to the industry; the growth trend continued into Q3.
Reviewing September totals, New Jersey saw a 6.5% revenue bump from the same time last year, while Maryland’s revenue was up 1%.
Sports betting and iGaming boost
Slot and table game revenues were down in Q3 but sports betting revenues bounced back at a rapid pace. A crowded calendar as sports leagues were back in action helped to increase revenue, along with gambler interest in new markets.
Bettors in the US placed $5.95bn in wagers during Q3, generating $352.3 million in gaming revenues. This was the second-highest quarterly total for the US in the history of legalized sports betting.
Online gaming was also up in Q3, bringing in $435m in revenue during the period. This represented an 8% increase from the previous quarter. When compared to the same time frame last year, revenue was up 232%.