#USA #Washington, D.C. #2024 Revenue #American Gaming Association #Commercial Gaming

U.S. Commercial Gaming Revenue Reaches $71.92 Billion in 2024

The American Gaming Association (AGA) has officially reported that U.S. commercial gaming revenue surged to an unprecedented $71.92 billion in 2024. This achievement marks the fourth straight year of record revenue, surpassing the previous year's total of $66.5 billion by 7.5%. The ongoing upward trend in the gaming sector highlights the evolving preferences of American consumers and the effectiveness of regulatory frameworks that support diverse gaming options.

Historical Context

This landmark figure was bolstered by record-breaking performance in Q4 2024, where revenues reached an all-time quarterly high of $18.62 billion. Such substantial financial successes underscore a significant cultural and economic shift concerning legal gaming practices across the United States.

Growth of Online Gaming

A notable trend contributing to this growth is the increasing popularity of online gaming, which accounted for 30% (approximately $21.54 billion) of the total revenue in 2024. This new record for online gaming reflects the societal embrace of digital platforms, particularly in states with established regulatory standards.

Breakdown by Sectors

1. Traditional Gaming: Here, brick-and-mortar casinos thrived, with slots and table games generating $49.78 billion—an increase of 82 basis points from the previous year. Impressively, 12 out of 27 traditional gaming markets set new state revenue records.

2. Sports Betting: Nationwide sports betting revenue saw a remarkable 25.4% increase, culminating in $13.71 billion. The fall sports season particularly spurred this growth, yielding a record $3.66 billion in betting revenue in the fourth quarter alone, also reflecting a 7.3% year-over-year growth.
- Notably, states like New Jersey and Illinois crossed the $1 billion mark in annual sports betting revenue, marking significant milestones in the regulatory landscape.

3. iGaming: The online casino market grew by an impressive 28.7%, reaching $8.41 billion across seven states with full-scale legal iGaming. All previously established markets recorded annual revenue highs.

Impact on Local Economies

The remarkable success of the commercial gaming industry has positive implications beyond measly profit figures. Throughout 2024, gaming operators contributed $15.66 billion in gaming taxes—a rise of 8.5% year-over-year. Additionally, the industry provides substantial tax contributions in terms of income, sales, payroll, and various corporate taxes, indicating its integral role in supporting local economies.

Looking Ahead

The continuous success of the legal gaming sector stands as a testament to the value it brings to consumers, operators, and society at large. Moving forward, AGA President and CEO Bill Miller emphasized the importance of sustaining this growth trajectory, which fuels jobs, investments, and economic development. As part of this commitment, the AGA will share insights on the full-year performance and its priorities for the upcoming year in a webinar scheduled for February 19 at 11 AM ET.

The stark increase in commercial gaming revenue not only exemplifies the vibrant entertainment landscape across the U.S. but also reflects evolving consumer habits that increasingly favor legal and diverse gaming choices. As this evolution continues, it paves the way for further exploration and expansion within the gaming industry.