US commercial gaming hits $13.89bn in revenues for Q3; a new quarter record for the nation

Commercial gaming revenues across the United States continue to grow each quarter. The American Gaming Association (AGA) uses its Commercial Gaming Revenue Tracker to keep up with the latest earnings, and the third quarter was a doozy. Reaching $13.89 billion, the nation has hit a new record when it comes to quarterly earnings.

So far this year, the US commercial casinos have generated over $38 billion in revenues. The industry is set to beat the 2020 yearly revenues and possibly 2019 as well when the nation hit a new annual record of over $43 billion!

Details on Quarterly Earnings

The top performers for the quarter were slots and table games. Both set a new record this quarter according to the AGA tracker, at $12.05 billion. Table games were up considerably with a 10% increase for the quarter.

Out of 25 states that offer commercial gaming, ten reported a new quarter record. In the mix were New Jersey, New York, Nevada, and Pennsylvania. Las Vegas saw new highs, with the Strip bringing in over $2 billion in Q3. This number was helped along by an increase in tourism with over 9 million people visiting during the quarter.

CEO and President of AGA, Bill Miller, stated that the United States has seen two consecutive quarters with record gaming revenue. He called this an incredible accomplishment, especially considering the year that everyone is going through.

Miller called the recovery a sustained result of leadership in the industry with ‘responsible reopening, world-class entertainment offerings, and widespread favorability.’

Online Earnings

For the online sector, the accomplishments were just as great. The third quarter saw online gaming revenues jump to well over $938 million. This is thanks to the popularity of online slots and table games, as well as other options like video poker.

Sports betting actually saw a new low for quarter returns, earning only $886.5 million. This was due to a limited sports calendar. Yet, if you combine online gaming and sports betting together, the United States generated over $5.3 billion in 2021 which is a huge jump of over 200% when comparing year over year.

Miller stated that as land-based venues set new records, plus the expansion into new verticals and tourism recovering both domestically and internationally, the industry is now in a strong position to see a full recovery.

Commenting further, Miller said that he feels with the return of conventions, meetings, and international travel, the gaming industry will see further recovery in 2022. We shall see as the new year begins and the next quarterly results are reported.

Source: https://news.worldcasinodirectory.com/us-commercial-gaming-hits-13-89bn-in-revenues-for-q3-a-new-quarter-record-for-the-nation-98009