- U.S gaming operators generated a combined $8.92B in January and February
- The figure is up 19% from the same period in 2020
- Latest figures indicate strong recovery from the COVID-19 pandemic
The US casino industry is continuing to recover from the negative impact of the COVID-19 pandemic, with the latest figures showing an increase in revenue for the first two months of 2022.
Based on figures released this week by the American Gaming Association (AGA), the country’s gambling sector has had a strong start to the year, generating $8.92 billion in total revenue for the months of January and February. This represents a 19% rise from the figures reported during the same period in 2020 and marks the fastest start to a year for the casino industry.
In February alone, commercial gaming revenue across the US covering both land-based and online operations reached $4.39 billion, an increase of 16.1% from February 2020, the last full month of casino operations before the COVID-19 pandemic.
The figure is also up 35.9% from last year’s numbers. 18 of the 27 states with commercial gaming since 2020 have seen their revenue increase in February 2022 compared to two years ago. Just five states recorded some losses, namely, Rhode Island, Kansas, New Mexico, Oklahoma and Louisiana.
Land-based Casinos Continues Strong Performance
A massive chunk of the $8.92 billion revenue in the first two months of the year came from slot machines and table games which brought in $7.18 billion, a slight increase from the $7.11 recorded in the first two months of 2020. The figure could be higher if revenue from tribal-run casinos were taken into account.
Of the 25 US states where casinos are operating, 14 enjoyed increases in revenue in January and February 2022 compared to the same period two years ago.
Online gambling operators in New Jersey, Delaware, Michigan, Pennsylvania, Connecticut and West Virginia generated $373.4 million in revenue in February, a 6.5% decline from January’s figure, but a 46.1% increase when compared to February 2021.
Casino visitations across the country were down compared to February 2020 but up 21.8% from February of last year. The Las Vegas casino industry in particular saw a massive increase in visitation from 2021, with the Las Vegas Convention and Visitors Authority putting the figure at nearly 70%, though this may go down in months to come due to the uncertainity on gas prices.
AGA’s President and CEO Bill Miller said the record start to 2022 is an indication of the sustained recovery into the year of the country’s casino industry. It’s still too early to tell whether this year’s figures will ultimately match or exceed the record numbers generated in 2021, but the latest results are a sign that casinos are still a top entertainment choice for Americans, according to Miller.