US casinos had greatest month ever in March, profitable $5.3B

ATLANTIC CITY, N.J. (AP) — Inflation could also be hovering, provide chains stay snarled and the coronavirus simply gained’t go away, however America’s casinos are buzzing proper alongside, recording the perfect month of their historical past in March.

The American Gaming Affiliation, the playing trade’s nationwide commerce group, stated Wednesday that U.S. business casinos gained greater than $5.3 billion from gamblers in March, the perfect single-month whole ever. The earlier file month was July 2021 at $4.92 billion.

The casinos collectively additionally had their greatest first quarter ever, falling simply wanting the $14.35 billion they gained from gamblers within the fourth quarter of final yr, which was the best three-month interval in historical past.

Three states set quarterly income information to begin this yr: Arkansas ($147.4 million); Florida ($182 million), and New York ($996.6 million).

The numbers don’t embrace tribal casinos, which report their earnings individually and are anticipated to report equally optimistic outcomes.

However whereas the nationwide on line casino financial system is doing effectively, there are pockets of sluggishness similar to Atlantic Metropolis, the place in-person on line casino income has not but rebounded to pre-pandemic ranges.

“Shoppers proceed to hunt out gaming’s leisure choices in file numbers,” stated Invoice Miller, the affiliation’s president and CEO. He stated the sturdy efficiency to begin 2022 got here ”regardless of continued headwinds from provide chain constraints, labor shortages and the affect of hovering inflation.”

The commerce group additionally launched its annual State of the States report on Wednesday, inspecting playing’s efficiency throughout the nation.

As beforehand reported, nationwide on line casino income set an all-time excessive in 2021 at $53.03 billion, up 21% from the earlier greatest yr, 2019, earlier than the coronavirus pandemic hit.

However the report consists of new particulars, together with that business casinos paid a file $11.69 billion in direct playing tax income to state and native governments in 2021. That’s a rise of 75% from 2020 and 15 % from 2019. This doesn’t embrace the billions extra paid in earnings, gross sales and different taxes, the affiliation stated.

It additionally ranked the most important on line casino markets within the U.S. when it comes to income for 2021:

The Las Vegas Strip is first at $7.05 billion, adopted by: Atlantic Metropolis ($2.57 billion); the Chicago space ($2.01 billion); Baltimore-Washington D.C. ($2 billion); the Gulf Coast ($1.61 billion); New York Metropolis ($1.46 billion); Philadelphia ($1.40 billion); Detroit ($1.29 billion); St. Louis ($1.03 billion); and the Boulder Strip in Nevada ($967 million).

The affiliation divides most of Pennsylvania’s casinos into three separate markets: Philadelphia, the Poconos and Pittsburgh. Their mixed income of practically $2.88 billion would make them the second largest market within the nation if judged as a single entity. It additionally counts downtown Las Vegas, and its $731 million in income, as a separate market.

Seven extra states legalized sports activities betting and two extra added web playing in 2021.

The group reported many states noticed gamblers spending extra in casinos whereas visiting them in decrease numbers in comparison with pre-pandemic 2019.

The common age of a on line casino patron final yr was 43 1/2, in comparison with 49 1/2 in 2019.

People wager $57.7 billion on sports activities final yr, greater than twice the quantity from 2020. That generated $4.33 billion in income, a rise of practically 180% over 2020.

Web playing income reached $3.71 billion final yr, and three states — New Jersey, Pennsylvania and Michigan — every gained greater than $1 billion on-line. West Virginia’s web playing market reached $60.9 million in income in its first full yr of operation, whereas Connecticut’s two web casinos reported mixed income of $47.6 million after launching in October.

___

Comply with Wayne Parry on Twitter at twitter.com/WayneParryAC

JOIN THE CONVERSATION

Conversations are opinions of our readers and are topic to the Code of Conduct. The Star doesn’t endorse these opinions.

Source

Leave a Reply