The American Gaming Association (AGA) has published its latest Commercial Gaming Revenue Tracker report, revealing commercial gaming revenue ahead by 6.3% from September to October, indicating the industry’s continued recovery.
The report highlights some key findings, notably that gaming revenue reached $3.38bn, matching 93% of revenue levels from October 2019. Six states – Colorado, Iowa, New Jersey, Ohio, Pennsylvania and South Dakota – saw revenue gains over October 2019, mostly powered by strong sports betting and igaming performance.
The association also noted that Americans are estimated to have wagered more than $3bn on sports, marking the strongest month for legal sports betting in US history.
It stated: “October is likely to be the strongest month for legal sports betting in US history as Americans wagered at least $2.82bn on sports across 17 states and the District of Columbia. (This number is expected to surpass $3bn upon the release of the October revenue report for Illinois – the fourth largest market in September.)
“Along with a likely record handle, the quickly growing US legal landscape also reached record revenue, with an all-time high combined hold of at least $237.5m, including free bets and promotions. That equals a gain of 53.5% over the previous record month, October 2019.”
The report also shows that sportsbooks in all but two states accepted more money in sport wagers in October than in any previous month. While Nevada reported an all-time high state handle, New Jersey broke the national handle record for a third consecutive month. In the first 10 months of 2020, national sports betting handle is up 48% while revenue grew 33% over the same period in 2019.
October marked the sixth consecutive month of recovery for the commercial gaming industry following April’s historic low-point. Nearly all commercial gaming jurisdictions showed positive signs of ongoing recovery in October, despite continuing to operate with limited capacity, game availability, and non-gaming amenities.
Ohio recorded a fourth consecutive month of year-over-year gaming revenue gains, while South Dakota has experienced revenue growth in each of the past five months. Colorado, Iowa, New Jersey, and Pennsylvania also saw revenue gains over October 2019 powered by strong sports betting and igaming performance. Of the remaining commercial gaming jurisdictions, all but four reported either higher revenue yields or reduced year-over-year revenue declines compared to September.
While sports betting and igaming continue to be the most visible drivers behind gaming’s recovery, legacy gaming is also improving month-over-month. Combined GGR from slot and table games rose 3.4% from September to $2.98bn in October, equal to 86.6% of the industry’s levels from October 2019.
The full report is available here.