Harsh Winter Weather Slams US Casino Revenues in Early 2026
Harsh winter weather has hit US casino revenues hard in early 2026. Snowstorms and federal emergency declarations across 12 states disrupted operations, cutting visitation and earnings. Analysts now point to weather as the main cause of recent struggles in the industry.
January brought unusually severe conditions, with 7 of the 12 states under federal emergencies hosting casino operations. In the worst-affected areas, foot traffic reportedly dropped to just 35% of normal levels. This led to an estimated 5.7% revenue decline in those regions.
Even where visitation reached 65% of typical numbers, revenues still fell by around 3.1%. The month also included an extra weekend day compared to January 2025, yet overall results remained flat. Analysts noted that January 25 had been particularly weak, skewing year-over-year comparisons.
Despite the challenges, some operators like Boyd Gaming, Churchill Downs, and Station Casinos are expected to perform well. Meanwhile, the iGaming sector continues to expand, with Virginia and Maine likely to launch online casino platforms in the coming months. Currently, seven states—New Jersey, Pennsylvania, Michigan, Connecticut, Delaware, West Virginia, and Rhode Island—already have legal iGaming markets.
J.P. Morgan's Daniel Politzer forecasts a 2% revenue increase for the year, even with visitation down by 5.4%. Jefferies analyst David Katz echoed this view, attributing the slowdown largely to temporary weather disruptions rather than broader market weakness.
The casino industry faces short-term pressure from extreme winter conditions, but analysts remain optimistic about recovery. With iGaming expanding and key operators holding steady, the sector is positioned for modest growth. Revenue projections for 2026 still suggest a slight increase despite the early-year setbacks.
