Gambling Investors Betting on a Massive Comeback
With pandemic fears pulling back, casinos are wagering on a massive comeback. So far, it appears the industry is off to a good start, with U.S. commercial gaming revenue topping $11 billion in the first quarter of 2021, according to the American Gaming Association (AGA). “The revenue total marks a 4.1 percent increase over the industry’s pre-pandemic performance in Q1 2019 and is a 17.7 percent increase over Q1 2020, when the entire gaming industry shut down in March,” they added. That’s great news for companies like Jackpot Digital Inc. (TSXV:JJ) (OTCQB:JPOTF), Penn National Gaming (NASDAQ:PENN), Wynn Resorts (NASDAQ:WYNN), MGM Resorts International (NYSE:MGM), and Scientific Games Corp. (NASDAQ:SGMS).
“The first quarter of 2021 clearly shows that consumer interest in gaming never waned, despite the challenges of 2020,” added AGA President and CEO Bill Miller, as also quoted by the AGA. “This momentum is a direct result of our industry’s ability to provide safe environments for our employees and guests to return to and is a strong indicator that our recovery is on the horizon.”