The Gaming Revenue of US Plunges by 79% Due to the Pandemic

According to the reports of the American Gaming Association, the total gross US gaming revenue has dipped by 78.8% owing to the global lockdown induced by the outbreak of Coronavirus. The revenue obtained from slot games declined by 81.9% and that of the table games decreased by 86%. The shutdown of around a thousand casinos in March adversely affected the US gaming revenue that witnessed a dramatic drop in the second quarter of the pandemic. The reports revealed that the revenue from sports betting has dipped, as well, by 46.4%

The solitary ray of hope that is shining through amid the bleakness of the gaming and gambling industry is online gambling via iGaming. The revenue extracted from online gambling through iGaming has skyrocketed by around 253.8% to $402.7 million. The gross revenue obtained from iGaming stands at $643.9 after a soaring inclination by 189.7% since the global pandemic.

The CEO and President of the American Gaming Association, Bill Miller, said that the pandemic has induced a terrible financial crisis in the gambling industry. However, he is still hopeful of emerging successfully after the pandemic because he has faith in the strong foundation of the industry. Just like several other industries, the gambling industry, too, is reeling under the impact of the COVID-19 viral outbreak. Despite the health protocols to be implemented upon reopening the casinos, it is still not safe to operate in full swing. As such, hundreds of casinos are out of business and the casino workers are out of employment.

Nonetheless, the industry is hopeful, as the casinos are reopening their doors to welcome the guests again. In this regard, it has been noted by the American Gaming Association that around 300 commercial casino houses have reopened in June. The reopening has had a positive impact on the gambling industry as the gambling revenue has increased by four times since April and May.

Of late, over 85% of the casinos of the US, including 90% of commercial gambling houses, are back in business, amid the COVID-19 pandemic. However, the casinos of New York are yet to resume operation amid the pandemic, as the authorities of New York, has not lifted the shutdown law on the four commercial casinos of the city. The Association has also stated about the rigorous and innovative health protocols that are being implemented at casino houses to ensure the safety of the employees and guests.