The U.S casino gambling industry has seen some of the best ten months this year in its history. Considering how hard it was for the operators last year, it is incredible that the industry has broken records during the third quarter of this year.
AGA Releases U.S Gambling Revenue for Q3
The American Gaming Association (AGA) has actively released gambling revenue reports throughout this year. At the start of the year, the association predicted that 2021 would be the best year in the history of casino gambling in the country. That prediction has come to pass.
The association has released revenue reports for July, August, and September showing that casinos generated $14 billion. This is the best quarter in the gambling industry.
Some forms of gambling generated more revenues than others. As for land-based casinos, they managed to remain on track and break records.
Speaking about the revenue report, the president and CEO of AGA Bill Miller said the Q3 was the second quarter to see record-breaking revenue generation. He noted that it was an incredible accomplishment because it was a game after the most challenging year in the gambling industry. Bill noted the revenue recovery had not resulted from a flash in the pan but responsible reopening, world-class entertainment, and good leadership.
Various casino companies contributed to the high revenue generation. The ones located in Las Vegas generated most of the money, understandably because the city is one of the country’s biggest casino hubs.
Sin City’s Casino Revenue
Las Vegas will live to remember 2020 as its worst year for its economy following the closure of its main source of income, casinos, and tourism. While its economy came to a screeching halt in 2020, the city is slowly returning to normalcy.
According to the AGA, the Las Vegas Strip generated around $2.06 billion in July, August, and September. The association predicts the revenue surge as a result of increased tourism, with 9.2 million visitors making a trip to the city during that time.
Casino revenue generations remain on track and might result in breaking the annual revenue record in 2021. While this year is proving to be the best for casino operators, some are doing better than others.
Best Performing Casinos
One of the best performing brands is MGM Resorts. It recently bought The Cosmopolitan in Las Vegas. MGM Resorts CEO is supporting the legalization of online casinos as he feels it could help bring more revenue for the company.
Wynn Resorts is also doing well, recording incredible profits throughout this year. While this company has seen some leadership changes, it was the best decision as it helped the company bounce back to generating impressive revenues. Wynn Resorts will see another leadership change in February 2022.
Unfortunately, not all casinos are doing well. One of these is the Las Vegas Sands, with properties in Macau. Despite the unfortunate figures, Las Vegas Sands executives are optimistic about Macau returning to gambling peak and helping with revenue generation.
With the current pace, the gambling industry might break the 43.6 billion dollars record set in 2019. With travel restrictions lifted since November 8, the gambling market will witness more action that will cross 2019’s record.
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