As 2024 dawned, Nevada and Las Vegas sustained their impressive casino revenue performance from the previous year, but regional gaming establishments spread across the United States experienced a less prosperous start. Gross gaming revenue (GGR) for January indicated a downward slide, in contrast to the bustling activity of Sin City.
In regions beyond the neon glow of Las Vegas or the storied boardwalks of Atlantic City, the heartbeats of America’s gaming life—the regional casinos—throbbed with less vigor. These properties, encompassing Pennsylvania, New York, Mississippi, Louisiana, Indiana, Maryland, Michigan, and Massachusetts, are pivotal in the commercial gaming landscape, hosting a robust collection of slot machines, video gaming terminals, and table games in casinos, racinos, and riverboats.
Despite the absence of Pennsylvania’s data, the other leading gaming states have unveiled their January financial performances, painting a sober picture for the industry’s new year kickoff. With inflation rising and discretionary spending tightening, the gaming sector faces formidable challenges.
In the Empire State, the four upstate commercial casinos garnered $48.9 million from gamers—a slip exceeding 10% from the previous January. Meanwhile, New York’s racinos, home to video lottery machines, mirrored this downward trend with $182.5 million in winnings, marking a similar year-over-year decline.
Louisiana’s gaming establishments echoed these results. Adverse weather was cited for the decline, with casinos, riverboats, and racetrack slots collectively gathering about $163.1 million—a nearly 11% drop compared to the same period last year. Ronnie Johns, Chair of the Louisiana Gaming Control Board, ascribed the sluggish performance to icy conditions deterring casino-goers in vital markets.
Mississippi’s riverboats also felt the chill, turning up just shy of $180.3 million in winnings for January, and signaling an 11% decline relative to the previous year. Inclement weather bore the blame yet again. Across the state lines in Indiana, the gaming revenue’s dip was most pronounced with a 16.5% plunge in GGR.
Maryland’s six casinos saw their revenue fall by over 8% to $153.2 million. In Massachusetts, the trinity of brick-and-mortar establishments netted about $93.5 million from nonsportsbook gambles, a notch down by 3.5%. Conversely, although Michigan’s Detroit-based casinos recorded a 9% drop totaling $93.9 million, they found solace in diversified offerings, including iGaming platforms.
Despite the bleak January results, advocates for the casino industry uphold its resilience. The overarching belief in the sector’s impervious nature to recessions—an industry unscathed by economic downturns—is nuanced in light of its expansion. Economists now recognize the impact of broader economic forces on gaming. Nevertheless, industry leaders and stakeholders stand firm in their conviction of its enduring strength.
In his testament to the sector’s robustness, American Gaming Association President and CEO Bill Miller accentuated the relentless dedication to innovation. “Our members consistently invest in our product and people to deliver innovative entertainment options for American adults,” he said, emphasizing the focus on high-quality offerings amidst economic uncertainties.
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