Gambling industry shatters records with $53B in 2021
Figure is up more than 21% from 2019's record of $43.65B
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The commercial gaming industry has shattered revenue records in 2021 after generating $53 billion, up more than 21% from 2019's record of $43.65 billion. The fourth quarter posted a record $14.31 billion in revenue, beating the previous quarter's $13.93 billion.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WYNN | WYNN RESORTS LTD. | 91.67 | -0.19 | -0.21% |
| MGM | MGM RESORTS INTERNATIONAL | 37.37 | -0.18 | -0.48% |
| LVS | LAS VEGAS SANDS CORP. | 51.41 | +0.50 | +0.98% |
| CZR | CAESARS ENTERTAINMENT INC. | 38.25 | -0.43 | -1.11% |
According to the American Gaming Association, brick-and-mortar casinos generated 85% of the industry's revenue, with slot and table revenue rising 10% and 1%, respectively, compared to 2019. At the end of 2021, there were 466 brick-and-mortar commercial casinos in 25 states. The average age of casino goers fell from 49 to 44 years old.
A woman plays a slot machine June 23, 2021, at Bally's casino in Atlantic City, New Jersey. (AP Photo/Wayne Parry / AP Newsroom)
Commercial sports betting, which is now available to more than 130 million American adults in 25 states and Washington D.C., brought in a record $57.2 billion in handle and $4.29 billion in revenue in 2021, up 165% and 177% year over year, respectively. Meanwhile, iGaming, which is available in six states, posted a record $3.71 billion in revenue in 2021.
A gambler makes a sports bet at Bally's casino in Atlantic City, New Jersey, Sept. 5, 2019. (AP Photo/Wayne Parry, File / AP Newsroom)
Together, sports betting and iGaming revenue totaled $8 billion, up 158% from 2020, and accounted for 15% of all commercial gaming revenue in 2021, compared to 10% in 2020 and 3% in 2019.
"Our industry stood strong in the face of a tremendous and a tremendous adversity as we continue to navigate COVID and its many impacts," American Gaming Association CEO Bill Miller said during the organization's State of the Industry presentation Tuesday. "Despite the uncertainties the pandemic continues to present, from labor shortages to supply chain disruptions, our incredible rate of recovery sets us apart from others in the hospitality sector and the broader economy."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DKNG | DRAFTKINGS INC. | 43.93 | +0.28 | +0.64% |
| PENN | PENN ENTERTAINMENT INC. | 22.34 | +0.75 | +3.47% |
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In the first six weeks of 2022, legal mobile sports betting has launched in New York and Louisiana. The AGA noted that sports betting will come online in Nebraska and Ohio later this year and that a launch in Maryland is in the works. Seven states are considering betting legislation in 2022, while four are considering iGaming. Meanwhile, brick-and-mortar casino properties will open for the first time ever in Virginia and several new racinos (combined racetracks and casinos) will debut in Nebraska later this year.
While Miller is optimistic about where the industry is headed, he acknowledged that the commercial gaming industry is still waiting for business and international travel to regain momentum and for in-person meetings and conventions to return.
Going forward, the AGA will convene with leagues, media teams, sportsbooks and other stakeholders to set standards that will help educate consumers on legal sports betting options. The organization has also called on federal and state law enforcement to crack down on unregulated, illegal gambling machines and illegal offshore websites. In addition, the AGA will release its first-ever, industry-wide audit on environmental, social and governance (ESG) issues in the spring as part of a commitment to diversity and inclusion, sustainability and community partnership.