By Damian Martinez, journalist at G&M News.
The American Gaming Association’s (AGA) has released its latest Commercial Gaming Revenue Tracker with very positive numbers for 2024. There has been a record-breaking revenue of USD 71.92 billion for 2024, marking the fourth consecutive year of unprecedented progress. This surge is attributed to a combination of factors, including the expansion of legal gaming options, technological advancements, and a growing acceptance of gaming as a mainstream form of entertainment.
Traditional casino games, including slot machines, table games, and retail sports betting, generated USD 50.32 billion, accounting for 70% of the total revenue. Meanwhile, online gaming, comprising online sports betting and iGaming, contributed USD 21.54 billion, representing 30% of the total revenue.
Analyzing each vertical, slot machines generated USD 36.06 billion, up 1.6%, while table game revenue contracted by 1.7% year-over-year to USD 10.14 billion. Collectively, traditional casino slots and table games generated USD 49.78 billion in revenue, an increase of 82 basis points compared to 2023. Sports betting continued to see significant growth, increasing 25.4% from 2023 and reaching USD 13.71 billion in revenue. iGaming also had another strong year, expanding 28.7% year-over-year to USD 8.40 billion.
With the inclusion of tribal gaming revenue, which will be reported by the National Indian Gaming Commission later this year, total 2024 U.S. gaming revenue is expected to approach USD 115 billion.
iGAMING SURGE
This distribution highlights the significant role of online gaming in the industry’s overall performance, with online platforms now accounting for nearly a third of the total commercial gaming revenue. In 2023, land-based gaming accounted for 75.3% of the total and online gaming represented 24.7%.
The clear advancement of online gaming has been particularly pronounced in states like New Jersey, where Internet gambling revenue reached a record USD 213.6 million in October 2024, surpassing the previous month’s record of USD 208 million. The consistent upward trajectory of online gaming reflects a broader trend of societal acceptance and integration of gaming into mainstream entertainment. As more states consider legalizing various forms of gaming, and as existing markets continue to innovate and expand, the industry is poised for sustained growth in the coming years.
THE NUMBERS OF THE MOST IMPORTANT JURISDICTIONS
A closer examination of state-level data reveals that several key markets have significantly contributed to this national achievement. Nevada, long recognized as the epicenter of U.S. gaming, maintained its leading position with a substantial revenue of USD 14 billion in 2024 for both land-based and online gaming. This figure reflects the state’s robust tourism sector and the enduring appeal of its gaming establishments.
Pennsylvania emerged as a formidable contender in the gaming landscape, reporting a record USD 6.14 billion in revenue for 2024. This 7.7% increase from the previous year was largely driven by the state’s online gaming platforms, which alone accounted for USD 2.18 billion. The Pennsylvania Gaming Control Board noted that this growth has translated into USD 2.66 billion in tax revenue, underscoring the industry’s significant contribution to public finances.
New York also demonstrated a remarkable performance, particularly in the realm of online sports betting. In October 2024, New Yorkers placed a record-breaking USD 2.3 billion in online sports wagers, surpassing the previous national record of USD 2.1 billion set the prior year. This surge in betting activity has not only energized the state’s gaming sector but also generated substantial tax revenue earmarked for public education and other essential services.
Maryland’s six casinos combined to generate USD 1.96 billion in revenue from slot machines and table games during Fiscal Year 2024 (July 1st, 2023, to June 30th, 2024). This marked the third-best single-year total for Maryland’s casino program. Contributions to the state from casino gaming amounted to USD 824 million, supporting various public programs and services.
In November 2024, Michigan’s commercial and tribal operators reported a combined USD 284.3 million in total Internet gaming and sports betting gross receipts, reflecting a 12.1% increase compared to the previous month. Notably, iGaming gross receipts totaled USD 226 million, setting a new monthly record for the state.
About these favorable stats, Bill Miller, President and CEO of AGA, commented: “Much of this growth has been driven by the continued expansion in online gaming and sports betting. Meanwhile, traditional brick-and-mortar operations have shown their resiliency against macro-economic headwinds, particularly in Las Vegas, which has experienced months of softer revenue in late 2024 compared to the previous year’s highs. Moreover, legal gaming creates sustainable economic growth, partnering with local businesses and supporting 1.8 million American jobs.”