The first quarter of 2021 saw the US commercial gambling industry equal a previous record. Revenue matched the previous highest-grossing quarter and reached $11 billion.
According to statistics released by the American Gaming Association, Q1 2021 revenue was a significant 17.7% increase from the third quarter of 2019.
It was also a 4.1% increase year on year increase, from pre-corona numbers.
March 2021 was the US commercial gambling industry’s highest performing month in the history of the country’s gambling. This fact contributed to the high numbers seen in the first quarter overall.
What the AGA has to say
The president and the CEO of the AGA, Bill Miller said:
“Today’s report shows gaming’s comeback is ahead of schedule. Throughout the COVID-19 pandemic, our industry has faced numerous challenges head-on while still reopening responsibly and providing a safe, exciting environment for customers.”
“The gaming industry is generating these impressive results with one hand tied behind our back as capacity and amenity restrictions remain across the country.”
“This is a testament to gaming’s hard work to help ensure our team members’ safety and well-being, which enabled us to reopen safely. We applied those same standards to our customers, whose clear pent-up demand was met by our responsible industry.”
Highlights of Q1 Report
- Over half the states in the US with commercial casinos saw their Q1 gaming revenue increase compared to Q1 2019.
- Many states reported record first quarter numbers.
- Q1 2021 set a record for sports betting revenue. There was a 270% year on year increase, with $961 million recorded.
- Table games revenue dropped 12% to $1.6 billion.
- Slots generated 10.6% more than the same period last year with $6.7 billion.
- Remote gambling grew a whopping 238.9% – reaching $784.5 million.
The past year, three quarters of commercial casinos had to cap their occupancy rates at 50% in order to meet COVID-19 health restrictions. It’s expected that if these restrictions are lifted, revenue has the potential to boom even more this summer.
Last week, nine casino floors at MGM properties across Las Vegas got the OK to open up to 100% capacity.