U.S. gaming revenue plummeted in the second quarter due to the COVID-19 pandemic and the shutdown of nearly 1,000 casinos that began in March.
According to the American Gaming Association, total gross gaming revenue was $2.3 billion, down 78.8% compared to the second quarter of 2019. Slot machine revenue decreased by 81.9% and table game revenue fell by 86%. Sports betting also took hit, with a 46.4% drop.
The lone bright spot for the casino industry: iGaming. Revenue from online gambling rose by 253.8% to $402.7 million in the second quarter.
For the year, total gross gaming revenue is down 45.6%, to $11.7 billion. Slot machine revenue is $7.36, a 78% decline, and table game revenue is $2.13 billion, a 78.5% decrease. Sports betting is up 10.4%, with $324.9 million in revenue this year, and iGaming gross revenue is $634.9 million, a 189.7% hike.
“COVID-19 has undoubtedly posed the most difficult economic challenge the gaming industry has ever faced,” said Bill Miller, president…