AGA CEO: US gaming revenue down 79% for Q2; but foundation for recovery strong
Bill Miller, American Gaming Association (AGA) CEO, has described the current COVID-19 pandemic as “the most difficult economic challenge the gaming industry has ever faced.”
His comments came after US gaming revenue fell 79% for Q2 year-on-year. Revenue for the second quarter of 2020 totalled $2.3bn, according to the AGA’s commercial gaming revenue tracker.
Despite this, the research did suggest strong customer demand in 2020 when casinos have been open for business. Prior to the March closures, combined commercial gaming revenue was up 10% from 2019.
In addition, some states have reported an increase in daily gross gaming revenue (GGR) year-on-year for casinos which have been permitted to reopen in Q2, including a 43% rise in South Dakota, 19% increase in Ohio and 7% uptick in Indiana.
The month of June saw nation-wide revenue increase as 300 casinos were permitted to reopen. This led to total June revenue being four times that of the previous two months combined. More than 85% of US casinos are now open.
Although sports betting saw a sharp decrease in GGR due to the shutdown of sporting activities in Q2, the vertical still saw an increase of 4% for H1 year-on-year due to spreading legalisation across the states.
Commenting on the findings, Miller said: “COVID-19 has undoubtedly posed the most difficult economic challenge the gaming industry has ever faced.
“Yet, gaming’s record popularity prior to COVID-19, as well our resilience in the midst of such adversity, is evidence of the industry’s foundation for continued success as we emerge from the pandemic.”
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