U.S. Gambling Industry Bounces Back with Record Winnings
This article is published in collaboration with Statista
by Martin Armstrong
With by far the largest share of revenues coming from brick and mortar casinos via slots and table games, the U.S. gambling industry unsurprisingly took a pandemic-related hit in 2020. After posting record gross gaming revenue (GGR) in 2019, the total annual figure dropped by 31 percent. Despite there being a shift to some degree toward sports betting and online gambling (iGaming) which actually resulted in growth in these areas in 2020, falls of between 30-40 percent for slots and table games guaranteed the overall drop.
Another record GGR level was about to be hit by the industry, however. 2020's $29.98 billion stepped aside for an incredible bounce up to $52.99 billion. “These results are nothing short of remarkable,” said American Gaming Association President and CEO Bill Miller, adding: “Today’s industry is effectively meeting customers how and where they want to engage—whether at a casino or through mobile gaming.” Revenues grew across the board in 2021, not only compared to the subdued results of 2020, but also to the strong 2019 performance.
Looking ahead, Miller commented: “Despite our record-setting year, gaming’s total recovery is still reliant on the full return of travel and large events, which requires a safe health environment and open economy...I’m optimistic that we will see continued growth throughout 2022.”
Start leaning Data Science and Business Intelligence tools: