The American Gaming Association has provided their yearly State of the States report, showing that the United States commercial casino gaming industry earned $43.6 billion last year. This was a solid 3.7% increase from 2018. As the report was released, analysts couldn’t help to consider the Covid-19 pandemic and how the 2020 report will be vastly different. The casino gaming industry has proven to play a vital role in the economic structure of many states and local communities in the nation.
Outpacing Other Regions:
The United States commercial casinos did quite well in 2019, easily outpacing other gaming areas around the world. Macau is a major gambling city in Asia, with revenues coming in at 3.4% higher than in 2019.
When it comes to revenue totals, the US actually earned more than Macau and the Philippines combined in 2019. The US total of $43.6 billion was far more than the $36.6 billion earned in Macau and the $4.3 billion earned in the Philippines.
Just like the US, both the Philippines and Macau will be affected by the coronavirus. They too will see totals lowered in next year’s AGA report as they shut down to try and slow the spread of the deadly virus.
Highlights of the Report:
According to the State of the States, the year 2019 was the 5th running where the commercial gaming industry in the US saw growth. Last year, the growth was helped along by the introduction of sports betting in many states.
In 2019, 21 of the 25 states that offer commercial casino gaming saw a year-over-year revenue increase. Massachusetts saw the biggest jump at just over 163% while New Jersey was up 19.5%. Massachusetts was spurred by the opening of the Encore Boston Harbor.
The US commercial gaming industry was able to generate just over $10 billion in taxes which was directed to state and local governments. This amount was a 4.1% increase from 2018.
CEO and AGA president Bill Miller, commented in the report that the results show the continued mainstreaming of casino gaming. He pointed out the economic realities of today and it was hard to imagine that just a few months ago before the pandemic that 2020 was shaping up to be on trend with continued growth.