US casinos match best quarter ever; post-COVID hopes rise

<p>ATLANTIC CITY, N.J. &mdash; America’s commercial casinos matched their best quarter ever in the first three months of this year, as customers continued returning amid the COVID-19 pandemic and internet and sports betting money helped boost revenue numbers.</p>
<p>Figures released Tuesday by the American Gaming Association, the casino industry’s national trade group, show the nation’s commercial casinos took in over $11.1 billion in the first quarter of this year.</p>
<p>That matched the industry’s best quarter in history, the third quarter of 2019. The figures do not include tribal casinos.</p>
<p>The 2021 first-quarter revenue numbers represented a nearly 18% increase over the first quarter of 2020, when the pandemic began to take hold nationwide, and an increase of more than 4% from the first quarter of 2019, before the pandemic began.</p>
<p>The numbers were even more heartening to industry executives because they came while most casinos were still operating under capacity restrictions designed to slow the spread of the virus.</p>
<p>“Today’s report shows gaming’s comeback is ahead of schedule,” said Bill Miller, the association’s president and CEO. “Throughout the COVID-19 pandemic, our industry has faced numerous challenges head-on while still reopening responsibly and providing a safe, exciting environment for customers. The gaming industry is generating these impressive results with one hand tied behind our back as capacity and amenity restrictions remain across the country.”</p>
<p>Terry Glebocki, CEO of the Ocean Casino Resort in Atlantic City, said customer volumes at her property have been increasing this year, due in part to a multimillion-dollar reinvestment the casino is making.</p>
<p>But there is another factor at play as well, she said.</p>
<p>“I do think we’re seeing more and more people feeling more comfortable coming out” to casinos, she said. “There’s a ton of pent-up demand out there. People want to go out and have fun, and that’s what you do at a casino.”</p>
<p>Traditional brick-and-mortar casino games generated 90% of their first-quarter 2019 revenue. March was particularly strong, with revenue from slots and table games coming within 1% of March 2019 totals. </p>
<p>Sports betting revenue set a new quarterly record this year at $961 million, up 270% from a year earlier, and surpassing 2019’s full-year total of $909 million.</p>
<p>Helped by the successful opening of online casinos in Michigan, internet gambling generated $784 million nationwide in the first quarter of this year, more than three times the amount from a year ago.</p>
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