The Duel

FanDuel News Report - US Casino Financial Reports for Q2 2021

Olufifun Adeleke

History was made when the Apex American trade group for the casino industry, The American Gaming Association (AGA), released financial reports for Q2 of 2021. The US casino business posted $13.6 billion as profits for the first time in history.

A detailed look at the reports showed poker games led the pack with $2.5 million generated, followed by slots and other table games.

This figure brings the total amount generated to $24.8 billion, as the current profits bested the amount generated in Q1 2021, close to 22 percent. Analysts predict a total revenue of $44 billion or more, which is estimated to beat 2020 profits ($30 billion) and 2019’s ($43. 6 billion), a big boost for American gambling post-COVID.

How Individual States Fared

According to the report, most of the states with casinos have rebounded from the paralyzing effects of COVID, as 22 states recorded profits for the second quarter compared to the same period in 2019. 19 out of 25 states also recorded gains in the first half of 2021 compared to 2019’s first half.

Nevada leads the states, posting a personal best for the last four months. It raked in a total of $3.46 billion for Q2, an increase of 17% against 2019. This is the second time the Silver state is posting a massive figure for its gambling market.

Pennsylvania follows in second with $1.21 billion, a 44.6% increase, as it posted $426 million, an amount 50% higher than the same period for 2020.

New Jersey clinched the third position, with a record $1.11 billion recorded as profits.

According to the CEO of AMA, Bill Miller, the gaming industry is already finding its feet again.

“These first-half results are truly remarkable. It is even more impressive when you consider commercial gaming revenue was at its lowest point ever just a year ago. This is a testament to our resilience and commitment to providing customers safe environments and world-class entertainment experiences.”

The Future of US Casino Gambling and Legalisation

With the rising amounts being recorded from online gambling, many states are turning on their stance towards online casinos. Many states are now talking about bills to legalize virtual gambling and prepare a framework for taxation.

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