Commercial Gaming Drops 31 per cent
US commercial gaming revenue totalled $30bn in 2020, down more than 31 per cent year-over-year, according to the American Gaming Association.
2020 marked the first market contraction for the US gaming industry since 2014 and the lowest gaming revenue total since 2003.
US LAND-BASED
US commercial gaming revenue totalled $30bn in 2020, down more than 31 per cent year-over- year, according to the AGA Commercial Gaming Revenue Tracker. 2020 marked the first market contraction for the US industry since 2014 and the lowest gaming revenue total since 2003. Te year ended with some positive momentum in Q4, with a 1.7 per cent increase in revenue over Q3 2020. Te $9.2bn in revenue still represented a 17 per cent year-over-year decrease.
“COVID-19 devastated our business and the employees and communities across the country that rely on casino gaming's success,” said AGA President and CEO Bill Miller. “We have persevered by leading responsible reopening efforts, supporting our employees, and extending a hand to our communities. Still, these numbers underscore the importance of targeted federal relief and ramped-up vaccine distribution to accelerate recovery in 2021."
Commercial casinos lost 27 per cent of normal operating days throughout 2020 because of mandated closures and, to a lesser degree, disruptions caused by hurricanes along the Gulf Coast. Commercial casinos were open (with
Bally's pens the first sports league partnership with NHL
US
Bally's Corporation and the National Hockey League (NHL) has announced the formation of a multiyear strategic partnership designating Bally's as an Official Sports Betting Partner of the NHL. Te deal represents Bally's first sports betting partnership with a professional sports league.
Te partnership provides Bally's with rights to use NHL marks and logos as well as use of the League's official data across its portfolio of sports betting products. In addition, through its media partnership with Sinclair Broadcast Group, Bally's will create content for NHL fans integrated into live NHL game coverage spanning 19 regional sports networks.
George Papanier, President and
capacity restrictions) for an estimated 124,882 days in 2020 instead of 170,484 days had the industry not been shuttered. Te impact of COVID-19 on the casino industry extends beyond gaming revenue. Live entertainment, tourism, and meetings and conventions — which make up more than half of casino resort revenue in tourist destinations like the Las Vegas Strip — all came to a standstill in 2020 and are only now starting to reopen.
"Hospitality and travel have been among the sectors hardest hit by the pandemic. I am encouraged by recent bipartisan momentum on Capitol Hill to support these industries, which are crucial to our nation's full economic recovery," added Miller.
Since the reopening of properties in mid-2020, the industry has consistently demonstrated its ability to safely return to business, with 911 out of 998 US casinos open today. AGA research shows about one-in-three US adults plan to visit a casino in 2021 — near the highest rate since the AGA began tracking. About 80 per cent of future casino visitors agree the industry has done a good job at safely reopening.
CEO of Bally's, said: “We are thrilled to enter into this partnership with the NHL, which represents an important milestone in our strategy to become a leader in the online betting and iGaming space.
“With access to the NHL's official logos and brands, together with our first-of-its- kind media partnership with Sinclair, we will continue on our path to transform how fans engage with their favorite hockey teams."
"We're thrilled to become the first national sports league partner of Bally's Corporation," commented Keith Wachtel, NHL Chief Business Officer and Senior Executive Vice President. “With its Sinclair Broadcast Group partnership combined with a strong strategic vision for its portfolio of sports betting products, Bally's is an ideal partner for the NHL to further engage our avid fan base on a national and local level."
US
Kindred Group has continued its expansion in the US market by partnering up with the Quechan Tribe of the Fort Yuma Indian Reservation. By entering this agreement Kindred will gain market access to two additional key states, California and Arizona. After successful launches in New Jersey, Pennsylvania, Indiana and with signed agreements for an additional seven states, Kindred, through its flagship brand Unibet, is now taking a step further west. Te agreement spans over a 10 year period with option of extending and includes sports betting, both online as well as retail, and iGaming. Te launch timetable for both States is conditioned by local legislation. Arizona is likely to regulate first and with a draft bill on the table and support from the governor, Kindred is hopeful that the legislature will approve the initiative in 2021.
PENNSYLVANIA –The Cordish Companies have officially opened Live! Casino & Hotel Philadelphia, the new world-class gaming, hotel, dining and entertainment destination located in the heart of the Philadelphia Stadium District.
The opening of Live! Casino & Hotel Philadelphia transforms the Philadelphia Stadium District into an integrated sports, entertainment and casino-resort destination and establishes the area as the only place in the country to experience big league action from four major professional sports teams, dining and entertainment, gaming and hotel accommodations.
ILLINOIS – Illinois online sportsbooks ended 2020 on a high, pushing statewide handle to nearly $500m in monthly wagering and ending the industry's inaugural year with nearly $2bn in bets even as retail casinos remained.
"No state has made a bigger splash in its first year of regulated sports betting than Illinois," said Jessica Welman, analyst for
PlayIllinois.com. "2020 should be a prologue to a year that has the potential of being one of the most lucrative for any legal jurisdiction. The caveat is, though, that a lifting of the current suspension of the state's in-person registration requirements would have a chilling effect throughout the market."
With retail sportsbooks closed, Illinois online operators attracted $491.7m in bets in December, according to official data released Monday. That is up 8.6 per cent from $449.2m in November and represents the fourth-largest handle in the US for the month, behind New Jersey ($996.3m), Nevada ($588m), and Pennsylvania ($548.6m).
VIRGINIA – Virginia's fledgling sports betting industry is expected to grow into one of the largest markets in the US, capable of generating more than $5bn in annual wagers, $400m in annual operator revenue, and $60m in annual state taxes by the market's third year.
When online sportsbooks began taking bets in January, Virginia joined 19 other states and Washington D.C., to launch some form of legal sports betting. Few launched with a brighter future than the Old Dominion, which projects to more than $13m in handle, nearly $1bn in revenue, and more than $125m in state taxes over its first three years, according to PlayVirginia projections.
"Virginia is well-positioned, not only because it is a relatively large market, but because it will likely capitalise on Washington D.C., a legal market that has left some bettors frustrated," said Eric Ramsey, analyst for
PlayVirginia.com.
WIRE / PULSE / INSIGHT / REPORTS P19
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