GAMING INDUSTRY: DOMESTIC REVENUES SOAR TO NEW HIGHS

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The third quarter of 2021 saw further recovery from the economic impacts of the COVID-19 pandemic as the majority of the commercial gaming markets reported substantial growth, with many markets rising to new highs.

On a national level, gaming revenues in the third quarter of 2021 totaled $13.9 billion, according to the American Gaming Association. This marked a 53.8 percent increase from last year and exceeded the pre-pandemic third quarter of 2019 by 24.7 percent. Of the 25 states with commercial gaming, 10 set quarterly revenue records in the third quarter of 2021. The third quarter revenues were heavily influenced by pent up customer demand aided by the boost in personal incomes from multiple federal stimulus programs. Additionally, rising vaccination rates and rebounding travel activity have helped drive traffic to destination markets such as Las Vegas.

On a national level, sports betting and iGaming gross revenues also expanded, reaching $886.5 million and $938.6 million, respectively. When combined, sports betting and iGaming accounted for 13.1 percent of total gross gaming revenue during the quarter, which was even with the prior quarter but down 2.6 percentage points from a record-setting first quarter of 2021 when traditional gaming activity was more greatly affected by the pandemic and related response.

READ THE FULL ARTICLE BY BRIAN R. GORDON, CPA, IN THE 2021 WINTER EDITION OF GAMING & LEISURE MAGAZINE.

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