November now marks the ninth-consecutive month with commercial gaming revenue exceeding US$4.4bn.
With December revenue yet to be reported, 2021 annual gaming revenue reached US$48.34bn through the end of November, shattering the industry’s full-year record (2019) of US$43.65bn and tracking 21.3 per cent ahead of the same eleven-month period in 2019.
At the state level, 23 of 26 commercial gaming jurisdictions that were operational in November 2019 saw revenue growth over that month, with monthly gaming win only contracting in Kansas (-10.6 per cent), Louisiana (-6.3 per cent) and New Mexico (-9.1 per cent).
By the end of November, 16 of 26 jurisdictions had exceeded 2019 full-year revenue and an additional five were tracking ahead of the same eleven-month period of that year. Through November, ten states have now surpassed their records for full-year gaming revenue: Arkansas, Colorado, Florida, Iowa, Massachusetts, Michigan, Oklahoma, Oregon, Pennsylvania and South Dakota.
Visitation levels remain notably below 2019 levels. Across these states, admission declines compared to November 2019 ranged from -17.6 to -30.4 per cent, with the small sequential dip attributable to a less favorable calendar as November had one less full weekend. Destination markets experienced a similar dynamic as Las Vegas visitation decreased 11 per cent from 2019, compared to -eight per cent in October, according to the Las Vegas Convention and Visitors Authority.
Average gaming revenue from slots and table games per casino admission continued to exceed pre-pandemic levels in November, with monthly casino win per visitor for the five states up between 10.1 and 37.4 per cent from November 2019 averages.
Nationally, brick-and-mortar slots and table games generated combined revenue of US$3.83bn, up 12.2 per cent from November 2019 but dropping -3.6 per cent sequentially. Slot revenue reached US$2.71bn, up 14.2 per cent from 2019, while table games generated US$832m, an increase of 17.7 per cent over 2019.
The football season propelled US sports betting to new highs as the industry reported its highest ever monthly revenue of US$666.1m, up 112.8 per cent from November 2020 and shattering the previous record set in October by 48.5 per cent. The all-time high monthly revenue was driven by favorable event outcomes throughout the month as the nationwide hold percentage rose to 9.6 per cent, up from 5.9 per cent in October. US handle reached US$6.94bn, down from US$7.55bn in October. The figures for November will increase further when Arizona data is released.
Taken together, revenue from iGaming and sports betting accounted for 20.9 per cent of total commercial gaming revenue in November, largely due to sportsbooks’ record month. That is the highest ever share for these nascent verticals, except for April and May 2020 when nearly all casinos were shuttered.
Source: G3
