American Gaming Association highlights slow third-quarter recovery

In the United States and the American Gaming Association trade group has announced that the nation’s aggregate third-quarter commercial gross gaming revenues declined by 18.9% year-on-year to $9.04 billion largely as a consequence of the ongoing coronavirus pandemic.

However, the advocacy organization used an official Monday press release to detail that the result for the nation’s non-tribal industry represented a 294% rise when compared with the previous three-month period largely due to an increase of 232.4% year-on-year in iGaming receipts to $435 million as well as a 47.1% swell in sportsbetting revenues to $352.3 million.

Encouraging examples:

The American Gaming Association revealed that the third quarter also saw related aggregated land-based slot revenues drop by 19.3% year-on-year to about $5.8 billion while gaming table receipts suffered an even more calamitous plummet of 31.2% to roughly $1.5 billion. But again, the organization highlighted the positive in explaining that five states encompassing South Dakota, Mississippi, Arkansas, Ohio and Pennsylvania had actually recorded takings for the three months to the end of September that were above those seen for the same period in 2019.

Sustained slump:

The trade group furthermore 7BALL pronounced that all of this means the commercial gambling industry in the United States has now recorded aggregated nine-month revenues of $20.74 billion, which equates to a plunge of 36.5% year-on-year. It stated that this came as a consequence of an associated 38.3% fall in slot takings and a 42.6% plunge for gaming table receipts but in the face of sportsbetting and iGaming chalking up comparable rises to $677.8 million and $1.07 billion respectively.

Recent revivals:

Bill Miller, President and Chief Executive Officer for the American Gaming Association, used the press release to proclaim that ‘more than 100 casinos’ re-opened during the third quarter following earlier coronavirus-related closures. He moreover proclaimed that this has taken the nation’s total complement of commercial gambling-friendly venues to 94.7% of the pre-pandemic level, which represents a rise of almost 14% quarter-on-quarter.

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Read a statement from Miller…

“Our industry continues to prioritize the health and safety of our employees, customers and communities above all else. While these quarterly results are promising, the reality is a full recovery is dependent on continued public health measures to control prevalence rates. As state and local officials respond to current coronavirus outbreaks with additional restrictions, urgent Congressional action to provide coronavirus relief is even more crucial. Gaming employees and communities depend on it.”