According to the American Gaming Association (AGA), the US casino industry is well and truly back in business. The AGA has released the latest commercial revenue figures for April, with the figures showing more than a 25% year-on-year increase.
Figures for April showed that sports betting boosted commercial gaming revenue in April to pre-pandemic levels. Revenue from iGaming across the US in April reached $299.9 million, with total casino revenue for casino games and sports betting exceeded $4.3 billion, making it the second most profitable month in history.
The traditional March Madness period saw commercial sports betting revenue generate $240.3 million. This was nearly a four-fold increase over the same period in April 2019.
Vaccination Rates Speed Up Casino Industry Recovery
The increase in US vacation rates has contributed to the positive consumer impact. With just under one million per day being vaccinated, the casino and gaming industry has experienced a solid wave of positive momentum, according to AGA President Bill Miller.
“Today’s report shows gaming’s comeback is ahead of schedule. Throughout the COVID-19 pandemic, our industry has faced numerous challenges head-on while still reopening responsibly and providing a safe, exciting environment for customers,” Miller said.
Bricks and Mortar Casinos Experience a Rebound in Capacity
The AGA commercial revenue figures indicate that the traditional land-based casinos are on the verge of returning to pre-pandemic profit levels. Government regulations across the US have allowed the bricks and mortar operations to re-open their doors to customers. Slot and table games revenue data for March 2021 came within 1% of March 2019 totals. The commercial revenue figures over the 2020 period were excluded due to the COVID-19 restrictions imposed on the industry.
The AGA noted that eight of the 25 traditional casino states allowed casino facilities to open at full capacity prior to the relaxation of government restrictions. Nearly 80% of the 463 casinos in the US were limited to 25% to 75% full occupancy, even with limited gaming capacity. When measured against the 2019 figures, only four states experienced a decline in revenue when compared to the same period over 2019.
Sporting Betting Tipped to Experience Further Growth
The rise in vaccination rates and the government’s ability to contain the threat of COVID-19 should see crowds return to major sporting events across the US towards the latter half of 2021. Sportsbook across the US will be hoping for a return to pre-pandemic revenue figures with the positive atmosphere set to continue.