Casinos In The United States Record GGR Growth In 2017
Market analyst Ken Adams has revealed the latest figures which show the commercial casinos in the United States recorded a 3.7% rise in gross gaming revenue (GGR) in 2017 for a total of $41.2 billion on a full-year level.
The recently published report cites the nationwide casino expansion as the main factor behind such strong 2017 results.
New Casinos Mean More Money
Let’s go back to 2017. New York, Maryland, Kansas, Illinois and South Dakota have seen the opening of a number of new casino venues, with the country’s economic growth further boosting the increase in revenue. This economic growth had a significant impact on the full-year results since as a direct result of it, gamblers had more money to spend at the casino.
Explaining the factors that helped shape the market results, Ken Adams said the jobless rate had sunk and consumer confidence had surged, which had been a “perfect storm and the answer to a gambler’s prayers”.
When it comes to states’ individual results, Adams emphasized the role of those that added casinos during 2017.
More To Come This Year
Maryland saw its gaming revenues increase to more than $1.6 billion (33% up from 2016), mainly due to the contribution of MGM National Harbor. New Jersey recorded a small increase of 2.2%, while the country’s largest gaming state, Nevada, recorded a rise of 2.8%.
New York added four new commercial casinos, although the first three to open didn’t perform as expected.
It’s reasonable to expect more growth this year since several new venues will open their doors in 2018. MGM Springfield and Wynn Boston Harbor are under construction in Massachusetts, 10 new casinos are being auctioned in Pennsylvania, Nevada is looking forward to finally open the Fontainebleau and Resorts World, while Atlantic City is ready to reopen two venues.