AGA: Commercial gaming revenue hits $4.85bn in November 2021

The American Gaming Association has published its commercial gaming revenue tracker for November, declaring the month the second-highest-grossing month ever.
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The American Gaming Association (AGA) has published its commercial gaming revenue tracker report for November 2021, declaring that the month was the second-highest-grossing month ever after commercial gaming revenue hit $4.85bn.

November was also the ninth consecutive month the gaming industry has generated more than $4bn in revenue, a numerical threshold the industry had never crossed before 2021.

Sports betting and igaming accounted for nearly 21% of total commercial revenue during the month, generating $666.1m and $345.8m in revenue respectively, the highest ever share for these verticals, except for April and May 2020 when nearly all casinos were closed.

Slots generated the most revenue at $2.71bn, followed by table games at $832m.

Commercial gaming revenue has totaled $48.34bn in the year through November 2021, breaking the previous revenue record of $43.65bn and tracking 21% ahead of the same 11-month period in 2019. December’s revenue is yet to be reported.

Breaking these numbers down further, football helped sports betting reach its highest ever monthly revenue of $666.1m, up 112.8% from November 2020, and smashing October’s record by 48.5%.

Favorable event outcomes throughout the month helped to produce this new high, as the nationwide hold percentage grew to 9.6%, up from October’s 5.9%. The handle reached $6.94bn, down from $7.55bn in October, but this will increase further when Arizona data is released.

Louisiana’s first full month of wagering also helped sports betting in November, with eight brick-and-mortar sportsbooks in the state taking bets, generating $27.6m in handle and $5.7m in revenue.

Igaming in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia reached $345.8m, up 124.2% year-over-year but decreasing by 3.2% from October’s record level.

At the state level, 23 of 26 commercial gaming jurisdictions that were operational in November 2019 saw revenue growth in November 2021. Only Kansas (-10.6%), Louisiana (-6.3%), and New Mexico (-9.1%) saw decreases.

16 jurisdictions surpassed their 2019 full-year revenue by the end of November, and an additional five were tracking ahead. Arkansas, Colorado, Florida, Iowa, Massachusetts, Michigan, Oklahoma, Oregon, Pennsylvania, and South Dakota have now beaten their previous full-year gaming revenue records.

Casino admission levels stayed largely the same as in recent months in the five regional markets that publish admission data – Illinois, Iowa, Louisiana, Mississippi, and Missouri – even as the holiday season approached.

However, visitation levels remained below 2019 levels, with admission declines varying from -17.6% to -30.4% compared to November 2019, with the small sequential dip attributable to November 2021 having one less full weekend. Destination markets experienced a similar drop. Las Vegas visitation fell 11% from 2019, compared to -8% in October, according to the Las Vegas Convention and Visitors Authority.

Slots and table games’ average gaming revenue per casino admission continued to outshine pre-pandemic levels. Monthly casino win per visitor for the five states improved between 10.1% and 37.4% from November 2019 averages.

Brick-and-mortar slots and table games yielded combined revenue of $3.83bn, a 12.2% improvement on November 2019, but dropping -3.6% sequentially. Slot revenue reached $2.71bn, a 14.2% growth compared to 2019, while table games rendered $832m, an increase of 17.7% over 2019.

Year-to-date through November, slot and table game revenue reached $41.08bn, close to the industry’s 2019 full-year record of $42.24bn, tracking 6.4% ahead of the same eleven-month period in that year.

At the state level, 17 of 25 commercial gaming states with slot and table gaming saw combined revenue growth from November 2019, with 15 of the jurisdictions on track to surpass full-year slot and table game revenue.