US Commercial Casino Revenue Down 19 Percent in Third Quarter, Win Totals $9B
Posted on: November 16, 2020, 01:08h.
Last updated on: November 16, 2020, 02:21h.
In the third quarter of 2020, US commercial casinos won more than $9 billion on their gaming floors and interactive online and mobile platforms.
The American Gaming Association (AGA) reports that total gross gaming revenue (GGR) was $9.04 billion. Slot machines accounted for the lion’s share at $5.87 billion. Table games won $1.57 billion, internet gaming $435 million, and sportsbooks kept $352.3 million of bettors’ wagers.
The $9.04 billion number represents an 18.9 percent decline compared with the same three months in 2019.
The AGA reports that 442 commercial casinos were in operation during Q3. They continue to operate in reduced capacities and under strict COVID-19 regulations.
Though Q3 was a 294 percent surge on Q2’s historic GGR record lows, casino win remains down 36.5 percent through the nine months of 2020.
Nevada Drags Industry
The most important state to the health of the nation’s overall gaming industry is Nevada. Silver State casinos experienced a rebound in the third quarter, but GGR remains severely reduced.
Nevada casinos reported a GGR of $576.3 million in the second quarter, a year-over-year drop of 80.5 percent. As casinos were permitted to reopen in early June, gaming revenue improved in Q3 to $2.3 billion. However, that’s still a 23.5 percent reduction compared with 2019.
Thanks to its online gambling and mobile sports betting, New Jersey’s Q3 revenue was $914.1 million, a 7.7 percent year-over-year drop. Pennsylvania fared even better, as the Keystone State also has internet gambling and online sportsbooks. Pennsylvania GGR was $893.1 million, a 3.8 percent premium in 2019.
Here are the remaining top 10 GGR states in the third quarter.
- State — Q3 Revenue — YoY Change (decline)
- Mississippi — $555.6M — 2.8 percent
- Indiana — $549.7M — (2.3 percent)
- Ohio — $517.8M — 7.5 percent
- Louisiana — $452.4M — (25.0 percent)
- Maryland — $433.2M — (2.8 percent)
- Missouri — $393.1M — (9.7 percent)
- Iowa — $369.3M — (3.0 percent)
Sports Betting, iGaming Growth
A couple of bright spots in the AGA third-quarter US casino industry report is sports betting and internet gambling, which saw revenues increase.
US sportsbooks took a record $5.95 billion in bets during the quarter, the market’s highest-ever quarterly handle.
AGA analysts credited the sports betting handle to an unprecedented three-month period that saw the NFL, MLB, NBA, NHL, professional golf, and college football all in action.
Sports betting revenue bounced back strongly in Q3 thanks to the growth of sports betting in Colorado, DC, Illinois, and Michigan, the AGA report said.
Revenue from online slots and table games climbed eight percent. While iGaming again enjoyed a strong quarter, the AGA warns that “Q3 was the first quarter since Q2 2018 with a slower rate of growth compared to the preceding quarter.”
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