The American Gaming Association (AGA) has reported having tracked a massive rise in gaming revenue generated by U.S. commercial casinos from the second to the third quarter of 2020.
The third quarter of the year saw revenue improve by an incredible 294% when compared to casino revenue reported to have been generated during Q2 of 2020. Revenue reported by the sector for Q3 came in at an impressively strong $9.04 billion for the three months up to and including September 30.
Q3’s casino performance does however still mark a definite decline in terms of the performance booked for the year so far. The $9.04 billion generated in Q3 sealed the deal on a 36.5% year-on-year decline for the period January to September 2020.
But while the overall results certainly do appear promising, AGA President and CEO Bill Miller has cautioned that the reality of the matter is that a 100% recovery to pre-crisis performances still remains wholly dependent on the ongoing implementation of public health measures and safeguarding restrictions.
Miller also said that along with the rolling out of more and escalated restrictions across the commercial casinos board, Congress will be relied on to take definite action in terms of providing the commercial casino industry with tax and other financial assistance and aid. According to Miller, the country’s commercial casinos, their employees, and also host-communities at large, depend on this aid being forthcoming in the very near future.
Restrictions known to affect casino traffic and revenue, said Miller, include the shuttering of indoor dining services, restrictions on the sale of beverages after 10 p.m., and strict occupancy limits. And since casinos have been operating subject to said occupancy limits for quite some time now, Miller said everything from cashflow to liquidity have already been severely affected as it is. These restrictions and more have dealt the industry a major blow, explained the AGA boss.
In terms of individual performances, the AGA confirmed revenue generated by slot machines and table games to have shown an overall decline. Sports betting revenue, however, has managed to recover at a rapid pace thanks to the return of many major sports to the domestic and international arena.
Online gaming, too, reported a steady increase for Q3 – with revenue up an incredible 232% when compared to the same period for 2019.