Casino industry report charts sharp drop in 2020 revenues

LAS VEGAS (AP) — A national casino industry group said Wednesday the pandemic cut gambling revenue in the U.S. by 31% in 2020, compared with the year before.

The American Gaming Association’s annual Commercial Gaming Revenue Tracker put the revenue total at $30 billion for 2020, marking the first market contraction for the industry since 2014 and the lowest total since 2003.

“COVID-19 devastated our business and the employees and communities across the country that rely on casino gaming’s success,” association President and CEO Bill Miller said in a statement that also pointed to the effects of a “standstill” involving live entertainment, meetings and conventions.

“Hospitality and travel have been among the sectors hardest hit by the pandemic,” Miller said. "These numbers show the economic realities of COVID-19 and underscore the importance of targeted federal relief and ramped-up vaccine distribution.”

The report from the industry advocacy and lobbying group noted the decrease in revenues in 2020 was far greater than the 8.4% drop charted from 2007 to 2009 during the Great Recession.

The organization reported what it termed positive momentum in the past three months of the year, tallying nearly $9.2 billion in revenue — up 1.7% from the third quarter.

Commercial casinos lost 27% of normal operating days throughout 2020 because of mandated COVID-19 closures and disruptions caused by hurricanes along the Gulf Coast, according to the report. It estimated that casinos were open, with capacity restrictions, for just under 125,000 days during the year instead of more than 170,000 days.

Of 998 casinos in the U.S., the association said 911 have resumed operations since being allowed to reopen last summer. By the end of the year, 37 commercial casinos...