The legalisation of sports betting across a number of states, together with the launch of iGaming in West Virginia, has resulted in a significant increase in Gross Gaming Revenue in Q3 2020
Recent numbers by the American Gaming Association (AGA) show an increase in commercial casino gross gaming revenue (GGR) in the third quarter of 2020. The numbers show a significant increase of the slot games, table games, sports betting, and iGaming revenue. When compared to the second quarter GGR, there was an increase of 294%.
The $9.04 billion GGR in Q3 show that the gaming industry is on its way to recovery but compared to Q3 for the same period last year, there was still a recorded decrease of 18.9%
Although the Q3 revenue did not reach the levels from last year, the operators were able to reach over 80% of the revenue, despite many operational limits enforced during the quarter. Obviously, the pandemic severely impacted the gaming industry, effecting its revenue in Q2 2020 as well as the overall revenue for the first nine months of 2020. Having said that, during the second and third quarter, the industry started to improve slowly and the easing of restrictions further helped the recovery.
Table games and slot machines income Increases in Q3
According to the AGA, 64.9% of the GGR in Q3 was raised by slot machines. Compared to the revenue raised by slot machines in Q2, this represented an increase of 351.5%, generating $5.87 billion.
The same can be said for table games as their revenue increased significantly in Q3 2020 hitting the $1.57 billion mark. This represents an increase of 447.2% when comparing table game revenue to that of Q2 2020. Additionally, although there were many restrictions imposed by governments throughout 2020, when comparing table game revenue for Q3 2020 to the same period last year, it increased by 31.2%.
Table casinos and slot machines were not the only ones to record revenue increases. Sports betting GGR reached $352.3million. This revenue, when compared to Q2 2020, illustrates a 448.8% increase as Q2 2020 only managed to record $64.2 million. The significant increase was aided by the legalisation of sports betting across a number of states such as Colorado, Washington D.C, Illinois and Michigan. Sports betting legalisation also helped Q3 2020 record an increase when comparing sports betting to the same period last year of 47.1%
Therefore, taking all this into consideration it is important to note that iGaming revenue in Q3 2020 increased by 234.2% from Q3 2019. Many factors have played a part in this significant increase from the legalisation of sports betting across a number of states to the launch of iGaming in West Virginia back in July.
SiGMA website adds French as its 6th language:
SiGMA Group is excited to announce the addition of a 6th language to its website. Users can now find all content, including the SiGMA News website, in French. The latest addition to SiGMA’s portfolio of languages will run alongside the recently launched Russian, Mandarin, Spanish, and Portuguese content, and aims to cater to SiGMA’s wide portfolio of international events.