Gambling revenue fell by 31 percent
A national casino industry group said Wednesday that the pandemic cut gambling revenue in the U.S. by 31 percent in 2020, compared with the year before.
The American Gaming Association’s annual Commercial Gaming Revenue Tracker put the revenue total at $30 billion for 2020, marking the first market contraction for the industry since 2014 and the lowest total since 2003.
“COVID-19 devastated our business and the employees and communities across the country that rely on casino gaming’s success,” association President and CEO Bill Miller said in a statement that also pointed to the effects of a “standstill” involving live entertainment, meetings and conventions.
“Hospitality and travel have been among the sectors hardest hit by the pandemic,” he said.
The organization reported what it termed positive momentum in the past three months of the year, tallying nearly $9.2 billion in revenue — up 1.7 percent from the third quarter.
Commercial casinos lost 27 percent of normal operating days throughout 2020 because of mandated COVID-19 closures and disruptions caused by hurricanes along the Gulf Coast, according to the report.
In Las Vegas, MGM Resorts International announced Wednesday that it will resume roundthe-clock hotel operations March 3 at Mandalay Bay, Park MGM and the Mirage. The properties had implemented midweek closures because of decreased business during the pandemic.
The association report said 2020 was buoyed by new options including more widespread legal sports betting, which reached an all-time high of $1.5 billion in revenue, up 69 percent year over year. iGaming revenue nearly tripled, to almost $1.6 billion.
Revenue from table games was down 39.4 percent for the year, and slot machine revenue was down 33.8 percent, the report said.