US domestic casinos record a revenue of $42.7 billion in 2018
Domestic commercial casinos in the USA posted a revenue of nearly $42.7 billion in 2018, marking an increase of 4 per cent year on year. This is also the highest ever total for the country’s gambling industry.
The Adams Revenue Revue, prepared by Reno-based gaming analyst and consultant Ken Adams for CDC Gaming Reports, indicates that 23 commercial casino markets reported gross gaming revenue (GGR) totalling $42.69 billion.
Adams termed 2018 as “a good year,” with increased earnings stemming from the opening of new casinos in Atlantic City, Massachusetts, and New York. The $42.7 billion win is a $1.5 billion premium on 2017’s total haul.
December revenue was fuelled by the introduction of new casinos, more (slot machine-like) VLTs, and, in the last half of the year, by sports betting, Adams wrote.
Despite the US gaming industry’s best casino revenue win in the nation’s history, associated stocks do not reflect the same prosperity. A downward second half for the US stock market pushed shares lower for major operators including MGM Resorts, Caesars Entertainment, Wynn Resorts, and Las Vegas Sands.
Nevada, the richest casino state in America, reported $11.9 billion in GGR last year, its third highest mark in history. Despite the Silver State losing its monopoly on sports betting following the Supreme Court’s repeal of the federal ban last May, Nevada sportsbooks recorded a record $5 billion handle, and record $301 million win.
Pennsylvania commercial casinos enjoyed their best year in history, with GGR totaling $3.24 billion.