Commercial casino revenue in the US drops almost 20% year on year
By Bob Garcia
The third quarter of 2020 was better than the second, but still off from 2019’s figures
The COVID-19 pandemic continues to take its toll on the casino industry around the world. Things were just getting into a groove before the coronavirus came in and forced gambling venues everywhere to close, and recovery is not going to come easy. The latest figures for the third quarter of the year show that there was quarter-over-quarter improvement; however, the US casino industry is still off by almost 20% from where it was a year ago.
The American Gaming Association (AGA) reported this week that gross gaming revenue (GGR) for commercial casinos in the US came in at $9.04 billion for the third quarter. While this is a significant amount, it’s still 18.9% less than what the casinos reported for the same period last year. On a positive note, it’s 294% higher than what was reported just a quarter earlier.
Slot machines saw the most turnout, taking in $5.87 billion. Table games followed at $1.57 billion and online gaming, which is still in its infancy and not legal in but just a handful of states, recorded $435 million.
Nevada led the way, as usual, with GGR of $2.3 billion, followed by New Jersey and its $914.1 million. Next was Pennsylvania, with $893.1 million. It’s worth noting that the year-on-year percentage drops were not that significant, considering all casinos are operating at reduced capacities that range from 15-50%.
There may be a slight dip before the year ends, too. Casinos in several states are taking a weekday break as COVID-19 begins to resurface, and casinos in Detroit, MI, are taking a mandatory three-week holiday. These drops are bound to hurt the numbers for the last quarter of the year.