US Gaming Industry Continues Record Growth Streak with August Revenue Surge
The US commercial gaming sector, as per the American Gaming Association (AGA), witnessed a 10% revenue surge this August versus the same month a year ago. This signifies 18 straight months of positive year-on-year expansion for the industry, even amidst a difficult economic climate.
August’s earnings hit $4.89 billion, establishing a new monthly high. However, this figure actually constitutes a 4% decline from July’s figures, which the AGA indicates aligns with normal seasonal patterns. Since March, excluding June and now August, monthly earnings have consistently met or exceeded the $5 billion threshold.
Unsurprisingly, Nevada topped the charts, generating $1.2 billion in revenue. New Jersey claimed the second spot with $471 million, trailed closely by Pennsylvania at $429 million.
Certain states witnessed particularly remarkable growth. Virginia’s revenue soared by 185% year-over-year. New Hampshire followed closely with a 163% jump, while Oregon registered a 155% increase.
Out of the 31 commercial gaming jurisdictions across the US, only four experienced a year-over-year revenue decrease: Delaware, Mississippi, Montana, and Massachusetts.
Nationwide, brick-and-mortar slots and table games collectively generated $4.02 billion. As is customary, slot machines accounted for the majority of that revenue, pulling in $2.92 billion.
The AGA emphasized the robustness of the traditional casino segment, noting that although overall US travel expenditures are down compared to August 2019, casino revenue growth is at its strongest level since April.
Local gambling establishments in the central United States, particularly in areas like Illinois and Mississippi, witnessed a slight rise in visitor numbers relative to the period before the global health crisis. This uptick is noteworthy because the sports wagering sector typically undergoes a minor downturn during the summer season. Despite this cyclical pattern, sports wagering income remained stable, demonstrating substantial growth compared to the same period in the previous year.