The calendar is important when tabulating gaming revenue.
During May 2017, there was one less Sunday than May 2016. Still, gaming revenue nationally rose almost 4 percent during the month according to the Adams Revenue Revue, a monthly look at the gaming industry’s performance. The report is produced by gaming analyst and consultant Ken Adams for CDC Gaming.
Adams said the nation’s gaming revenues should have declined a little less than 1 percent in May, given the absence of one Sunday.
Yet, revenue reported in the 21 states followed by Adams, who is based in Reno, hit $3.515 billion.
“The most important factor in the May’s growth was the expanded capacity in five states, but it was also aided by a healthy national economy,” wrote Adams, who also serves as CDC’s executive editor.
Adams cited several national economic factors that helped boost casino business, including low oil prices, increased new home sales, low unemployment figures and low interest rates.
Maryland recorded the highest percentage increase of any state – 30.8 percent – which was due primarily to the opening last year of the MGM National Harbor. Meanwhile, gaming revenue jumped 7.8 percent in Kansas, 7.4 percent in Massachusetts, and 7.1 percent in Illinois. Both New York and Kansas added new casinos in the past year.
Adams credited New Jersey’s “significant” online gaming industry, with helping the Atlantic City market increase casino revenue 4.3 percent.
“Online gaming is becoming increasing important,” Adams said. “Since 2006, Atlantic City has been squeezed by external competition, which forced the closing of five casinos, leaving seven casino resorts operating. But as online gaming has gained steam, it has stepped into the breach; for the last year it has reversed the 10-year long revenue decline.”
Six states showed revenue declines in May, with the largest percentage dip in Delaware, which was down 21.7 percent.
Adams also cited Macau’s current gaming revenue rebound, where the opening of three new resorts has boosted numbers.
“It’s difficult to find anything negative to say about the results of a very merry May indeed,” Adams said.
CDC Gaming distributes the Adams Revenue Revue to premium subscribers.
Follow @howardstutz on Twitter
