According to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker, numbers are still smiling for the gaming segment. In the United States, revenue has reached USD 17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, and the 15th consecutive quarter of annual revenue growth.
Through the first nine months of the year, nationwide commercial gaming revenue stands at USD 53.24 billion, pacing 8% ahead of 2023 and putting the industry on track for a fourth straight record revenue year.
In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9% year-over-year surge in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing USD 3.79 billion in taxes across the quarter.
Quarterly revenue from land-based gaming (encompassing casino slots, table games and retail sports betting) totaled USD 12.57 billion, 0.62% lower than Q3 2023. Meanwhile, combined revenue from online sports betting and iGaming totaled USD 5.14 billion in Q3 2024 as online gaming made up 29% of commercial gaming revenue, a significantly higher share than in Q3 2023.
In this quarter, traditional brick-and-mortar casino gaming generated revenue of USD 12.38 billion, a contraction of 0.9% year-over-year. For its part, Americans legally wagered USD 30.3 billion on sports, producing USD 3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth. Moreover, iGaming generated USD 2.08 billion in revenue, marking a 30.3% year-over-year rise.
David Forman, Vice President of Research at AGA, expressed: “Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth. At the same time, new brick-and-mortar casino openings bolstered traditional gaming, which still accounts for the bulk of industry revenue. More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states.”