As the country ushers in a new year, it is time to look at the U.S. gambling industry. After the pandemic riddled everything in 2020, casinos started reopening in 2021. More people were confident to visit gambling properties, including casinos, racinos, and sportsbooks.
Some of these properties struggled to get back up. But, several others blossomed by entering new markets, producing exciting products, and providing the high demand for gaming.
These companies handled the situations so well, becoming the winners in the U.S. gambling industry.
1. MGM Resorts International
MGM Resorts International had one of its worst years in 2020 after losing 60 percent of revenue. The company had a net loss of $1 billion. The company’s share price also took a hit by 62 percent.
The Las Vegas-based firm had a good 2021 after recovering from losses, with its share prices shooting up by 47 percent by December 31, 2021. The company was able to bounce back for various reasons, including entering multiple new markets.
The brand is in 20 states and plans to add Illinois and New York to the portfolio. This expansion led to an increase in casino revenue generation with over $2.71 billion, a 146 percent increase from 2020 by the third quarter of 2021.
2. Scientific Games
Scientific Games is the only gaming supplier that made it to the top U.S gambling industry winner list. With a 41 percent increase in share price, Scientific Games moved from $47.25 at the beginning of 2021 to $66.83 by December 31. Unlike most other gaming suppliers, Scientific Games seemed not to be affected by the Coronavirus pandemic.
Instead, the brand entered new markets, partnered with various operators in the country, and increased its products’ sales.
The company also partnered with IGT to provide cashless technology for casino games. The two companies created a compelling product encouraging cashless gaming by tapping into the pandemic element.
3. Boyd Gaming
Like any other casino operator in the U.S., Boyd Gaming struggled to survive in 2020, resulting in several of its properties being closed. However, 2021 provided a new opportunity for the firm, with its share price moving from $47.03 to $65.47 by December 31.
The company also diversified its portfolio by being in at least ten states, including Nevada, Pennsylvania, Ohio, and others. Today, Boyd Gaming has 28 gambling properties in ten states.
One of the things that may have contributed to the company’s rise is the campaign to encourage more people to get vaccinated. Boyd Gaming even offered employees paid leave and free vaccination and immune boosters.
4. Caesars Entertainment
After announcing the firm’s fourth-quarter performance in 2020, Caesars Entertainment CEO hoped 2021 would be better. He predicted vaccinations and tourism recovery in 2021 would help the company recover.
Sure, to his words, these two factors contributed to Caesars Entertainment’s performance last year. Caesars had seen a 93 percent year-on-year revenue increase by the third quarter. The firm’s property based in Las Vegas, a tourism favorite, contributed $1.01 billion of the total revenue, which was $2.7 billion.
Caesars started in 2021, selling its shares at $78.06, which had increased to $93.53 by December. With 2022 already on course, we cannot wait to see how the casino industry will perform this year.
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