US Gaming Revenue Breaks Record
In the latest report stemming from its Gaming Revenue Tracker, the American Gaming Association (AGA) revealed that the US commercial gaming market experienced record-breaking revenue results during Q2 2021. Revenue performance reached a record high of $13.64 billion (£9.8bn/€11.6bn) during the period, breaking Q3 2019’s previous record.
The American Gaming Association (AGA) has reported that the US commercial gaming market experienced record-breaking revenue results during Q2 2021. ©Bru-nO/Pixabay
Half-Year Revenue Already Close to Overtaking Full-Year 2020 Revenue
The American Gaming Association (AGA) has reported that the US commercial gaming market experienced record-breaking revenue results during the second quarter of the year, generating a high of $13.64 billion (£9.8bn/€11.6bn) during the period, thereby breaking the previous record set during Q3 2019.
This previous record, which was set at $11.1 billion, matched revenue results from Q1 2021. To put things into perspective, the most recent revenue figures from Q2 2021 represent an increase of 22.5% when compared to this previous record.
Breaking down the quarter’s results shows how the majority of this revenue, $8.7 billion to be exact, came in from slots. Table games generated $2.14 billion, before online gambling and sports betting produced totals of $901.2 million and $888.9 billion respectively.
When accounting for the results of the year’s second quarter, the United States’ commercial gaming revenue for the first half of 2021 currently sits at approximately $24.77 billion. Gross gaming revenue from slot machines generated $15.56 billion of this total. For their part, able games brought in $3.81 billion here. GGR stemming from iGaming channels amounted to $901.2 million of this total, with sports betting GGR coming in last place at a total of $888.9 million.
In what is sure to be good news to market observers, the American Gaming Association (AGA) believes that this half-year revenue total is close to exceeding the $30 billion full-year revenue for 2020. This might not be all too surprising, given that 2020 was a year defined by the novel coronavirus (Covid-19) pandemic and the ensuing shutdown of most physical gambling locations across the nation.
First Half Results Described as “Truly Remarkable”
Aside from simply surpassing the $30 billion revenue total generated in 2020, the US commercial gaming market’s Q2 2021 results are also projected to overtake the highest-ever full-year revenue recorded by the American Gaming Association (AGA), which was $43.6 billion in 2019.
Bill Miller, president and CEO of the AGA, emphasized the significance of such record-breaking results during Q2 2021 in a shared statement, attributing the strong performance to the association’s efforts in providing safe gambling environments to American players:
“These first half results are truly remarkable. It is even more impressive when you consider commercial gaming revenue was at its lowest point ever just a year ago. This is a testament to our resilience and commitment to providing customers safe environments and world-class entertainment experiences.”– Bill Miller, President and CEO, American Gaming Association (AGA)
In related news also coming in from the American Gaming Association (AGA), the regulatory body recently vocalized its support for the establishment of a unified national gambling helpline, with the ultimate goal of employing it when promoting responsible gambling campaigns around the United States.
Revenue Results Were Also Broken in New Jersey in June 2021
Much of the United States’ gambling market has been experiencing record-breaking revenue results in 2021, largely due to the loosening of restrictions originally imposed to combat the spread of the novel coronavirus (Covid-19) pandemic.
In June 2021, the state of New Jersey saw sky-high gaming revenue performance, according to the state’s Division of Gaming Enforcement’s monthly gross revenue report at the time. $392.8 million was generated by the state’s gambling market in June, to be exact, representing a highly notable 302.7% year-on-year increase.
Not only are these results a significant increase on June 2020’s showings, but they also simultaneously stand as the highest revenue totals ever recorded by the state of New Jersey’s Division of Gaming Enforcement. Worth noting, however, is that the division’s monthly revenue reports date back to only 2014 — at least online.
Nevada Also Enjoyed Rising Revenue This Summer
Joining the fray of revenue-soaring gambling markets this year was Nevada, which experienced an encouraging 18.9% month-on-month growth in state gaming revenue in May 2021.
Following the loosening of earlier restrictions designed to curb the spread of the coronavirus (Covid-19), which included the increasing of casino capacities up to 80%, the state’s gambling scene saw a total revenue of $1.23 billion generated during the month.
In what might come as little shock to observers, Nevada’s Clark County, in which Las Vegas is located, unsurprisingly made up the bulk of the state’s revenue for May 2021 — $1.05 billion to be exact, with this sector’s revenue also up 21.6%. The Las Vegas Strip alone accounted for $655.5 million of this billion dollar total, or 62.3% when converting it to a percentage.
