In a new report summing the “State of Play” in the United States, the American Gaming Association posted a detailed breakdown of the commercial casino landscape in 2019.
AGA Publishes New Figures Revealing Growth in 2019
Commercial casinos had a strong 2019 a new report by the American Gaming Association (AGA) revealed on Wednesday this week. According to the reported numbers, commercial casinos generated a record-breaking $43.6 billion, marking a 4% increase and up for a fifth consecutive year.
Adjusting the numbers, AGA revealed that the exact increase stood at 3.7% year-over-year, indicating a continuing growth trend in the United States. However, this is likely to come to an end, with the casino industry coming to a halt in March.
Meanwhile, tribal casinos have still not released their results, as they operate individually from AGA and follow their own schedule when posting operational results. The latest figures the tribes posted date back to 2018, when tribal operators in the United States generated $33.7 billion or an increase of 4.1% year-over-year.
Giving Commercial Casinos a Boost with Sports Betting
Commercial casinos have seen a strong growth over the past two years owing to the rapid legalization of sports betting in the United States. Some 18 states have passed laws to offer sports betting contests and already do, with half a dozen others already working on a regulatory framework.
The interest in sports betting amounted to $13 billion wagered legally last year, which will most likely end up a smaller amount in 2020. Legal sports betting agencies generated $908.9 million in sports betting revenue, more than double the amount in 2018 when sportsbooks posted $430.7 million. The AGA report also noted that casinos are now beginning to restart operations, following a 78-day hiatus for most.
Las Vegas is not only reopening, but casinos are already coming up with new advertising campaigns in a bid to encourage tourists and patrons to return to the Las Vegas Strip. However, AGA noted that the shuttering of over 989 casino properties in the United States, both commercial and tribal, would undoubtedly mean the sustained growth the industry had been enjoying.
“Within a span of 11 days, the commercial casino industry went from continued record-breaking growth to complete shutdown,” AGA CEO Bill Miller commented in the report. He further added that “the American gaming industry has never faced a bigger challenge. But we have proven time and again that we are resilient.”
Record-Breaking Revenue and Tax Contributions on the Rise
Meanwhile, the report revealed that 21 out of 25 states have generated an increase in their overall commercial casino revenues. Moreover, 14 states have posted record-breaking numbers among which Arkansas, Florida, Pennsylvania, Rhode Island, and others.
Tax contributions climbed to $10.2 billion surpassing the $10 billion threshold for the first time in the country. According to the report, gaming taxes have been sufficient to support the annual education for 832,000 elementary and secondary students.
The economic impact of all casinos today is estimated at $261.36 billion. The industry offers jobs to 1.8 million people in the United States.