United States casino industry feels the impact of coronavirus

In the United States and the American Gaming Association (AGA) has detailed that the nation’s commercial casino industry recently saw its fourth-quarter aggregated gross gaming revenues drop by some 16.5% year-on-year to around $9.19 billion.

The trade group used an official Wednesday press release to explain that this p for the final three months of 2020 came as the sector’s combined gross gaming revenues from table games decreased by 29.9% year-on-year to approximately $1.45 billion while associated takings from slots fell by 20.3% to about $5.63 billion.

Positive portion:

However, the AGA revealed that commercial casino operators in the United States chalked up a rise of 129.5% year-on-year in fourth-quarter sportsbetting revenues to slightly over $860 million as receipts from iGaming swelled by an impressive 185.3% to top $484 million.

Annual abatement:

Looking at 2020 as a whole and the organization asserted that the United States’ commercial casino industry saw its aggregated gross gaming revenues tumble by 31.3% year-on-year to some $29.98 billion thanks to a 33.8% comparable collapse in slot takings to $18.87 billion and an associated 39.4% deterioration in gaming table proceeds to $5.09 billion. But again the AGA noted that the sector had experienced a 68.9% climb in full-year sportsbetting receipts to $1.53 billion alongside a 198.9% boost in related iGaming proceeds to $1.55 billion.

Coronavirus cause:

Bill Miller (pictured) serves as the President and Chief Executive Officer for the AGA and he used the press release to declare that last year had ‘marked the first market contraction for the United States gaming industry since 2014 and the lowest gaming revenue total since 2003.’ He moreover blamed the twelve-month contraction on the coronavirus pandemic as the sector lost 27% of its operating days although noting that 911 of the country’s 998 commercial casinos have since re-opened.

Read a statement from Miller…

“Coronavirus devastated our business and the employees and communities across the country that rely on casino gaming’s success. We have persevered by leading responsible re-opening efforts, supporting our employees and extending a hand to our communities. Still, these numbers show the economic realities of coronavirus and underscore the importance of targeted federal relief and ramped-up vaccine dist 7BALL CX ribution to accelerate gaming’s recovery in 2021.”

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