A strong recovery
US commercial gaming revenue reached $13.89bn for the third quarter of 2021, marking the second consecutive record-breaking quarter. The American Gaming Association (AGA) took to Twitter to report the new results on Tuesday:
Total commercial gaming revenue rose around 2% compared to the record-breaking second quarter, increasing 54% year-on-year. For the first three quarters of 2021, total gaming revenue reached $38.67bn, a significant jump from the same period last year.
Online gaming also saw record growth for Q3, up 4% quarter-to-quarter, reaching $938.6m. Sports betting also reported a major revenue rise in comparison to last year’s figures, up 153% to $886.5m.
Land-based gaming moving well
Traditional gaming establishments are experiencing record revenue figures as they continue their recovery. Traditional gaming revenue, which includes table games and slot machines, hit a quarterly record of $12.05bn for Q3 2021. This represents a 2% rise from the previous quarter.
ten states experienced record revenue in the third quarter
Of this total traditional gaming revenue figure, $9.56bn came from slot machines, with table games yielding a record $2.49bn in revenue. Currently, 25 states have commercial casinos. Of these, ten states experienced record revenue in the third quarter. This includes Pennsylvania, New York, New Jersey, and Nevada.
The Las Vegas Strip experienced an all-time-high quarter, with revenue reaching $2.06bn. In part, this is due to a return of visitors to Sin City. In Q3, 9.2 million people visited Las Vegas, almost 10% higher than the previous quarter and the largest visitor rate since the start of the pandemic.
Optimistic about the future
AGA CEO and president Bill Miller described two consecutive quarters of record-breaking revenue as “an incredible accomplishment in any context, let alone after the most challenging year in industry history.”
Miller believes that the market’s strong results are not just a flash in the pan. Instead, he has attributed the strong performance to the leadership shown in reopening the gaming sector in a responsible fashion, as well as operators offering world-class entertainment.
well-positioned to continue their recovery
Miller also believes that the brick-and-mortar gaming establishments are well-positioned to continue their recovery as they expand into new verticals, hit record highs, and benefit from improvements in tourism. The AGA exec commented: “I’m confident that the return of meetings, conventions, and international travel will further accelerate gaming’s recovery in 2022.”