With the outbreak of the coronavirus pandemic in March 2020, all casinos in the United States were forced to close. Before that, all Las Vegas casinos closed more than half a century ago due to the death of John F. Kennedy. Note that in the United States, casinos are allowed in 19 out of 25 states and have not been able to operate normally for over a year. However, the situation looks very promising in 2021.
In March 2021, the US government decided to allocate more than $16 billion to support the gambling industry in the country. The maximum grant amount is $10 million. At the same time, the source indicates that the assistance should not exceed 45% of the gross entry of the institution.
The decision of the American authorities will seriously help the casino owners. Revenue in the US gambling industry in 2020 fell to the level of 2003. The American Gaming Association named specific numbers: the fall was 31%.
The local market did not show growth in 2020 for the first time in six years. It turns out that even during the most powerful economic crisis of 2007-2009, the entertainment industry in the United States survived more calmly. The reason for the recession, of course, was the coronavirus pandemic, which led to the closure of the casino. 27% of employees in the gambling industry have lost their jobs.
US bookmakers and casinos have reported huge revenues in the second quarter of 2021:
- US gambling and bookmaker revenues were $13.6 billion. This is 26.3% more than the revenue received in 2019.
- The proceeds from the implementation of gambling were recorded for $13.6 billion, which is 26% more than the same indicator in 2019.
- The revenue of American gambling establishments for the first half of 2021 amounted to $24.8 billion.
The indicators for the first half of 2021 are truly impressive. Financial indicators significantly exceeded those of 2019, even though the restrictions on the number of visitors were lifted only at the end of June of this year.
According to the Associated Press, the unprecedented revenue growth is due to the increased activity of players who are trying to catch up with the pandemic last year. At the same time, for the entire past 2020, casinos were able to raise only $30 billion.
According to a recent report from the Las Vegas Convention and Visitors Authority, the number of visitors to Las Vegas in July this year has grown by 130% compared to July 2020. Nevertheless, there were still 10.4% fewer tourists in the city than in July 2019.
The annual revenue record was recorded two years ago and amounted to $43.6 billion. Whether the record will be broken this year will become clear by the end of the year.
Online Gambling Growth
As a result of the pandemic, almost all areas of business were affected, but some of them not only withstood the onslaught of COVID-19 but also accelerated the pace of development. One of them is the online gambling industry. Once locked up, in conditions of rigid self-isolation, many people began to look for entertainment at home. Interest in online casinos offering virtual slot machines, card and table games for money has increased dramatically. The American Gambling Association states that the monthly revenue of US online casinos has consistently exceeded $160 million since March 2020. Online casinos offer:
- Wide range of rates. Nobody forces you to bet $ 100-200. You can start with small amounts of 10 cents.
- Instant payments. The money won is transferred to bank cards and electronic wallets, cryptocurrency wallets, etc.
- No health risks. You will never get the coronavirus if you play on the computer. But a trip to a real casino (and indeed anywhere) involves contact with real people.
In a pandemic situation this year (the rapid spread of the delta virus), the number of players may decrease. The authorities will be forced to restrict visits to gambling establishments, which could hit the casino's revenue. However, online sports betting, and digital online casinos are predicted to help keep the industry in place.