The American Gaming Association (AGA) has estimated that the US commercial gaming revenue will continue with its four-year record-breaking performance that will see the market exceed $67 billion in 2024.
According to the data, the revenue until September totalled $53.24 billion, which is an increase of 8% year-on-year. In September 2024, the revenue from commercial gaming reached $17.71 billion, which is the highest Q3 performance in the country to date.
Q3’s impressive performance is also responsible for delivering a record $3.79 billion in gaming taxes. This reflects an increase of 8.9% when compared to the same period in 2023, as it reinforces the industry’s key role in supporting local and state budgets.
The biggest driver of growth can be attributed to online gaming, with the revenue from iGaming reaching $2.08 billion, an increase of 30.3%. Sports betting, on the other hand, rose to $3.24 billion, which in turn is an increase of 42.2%.
Combined, both online gaming channels are responsible for contributing a whopping 29% to the total revenue of the iGaming industry.
Opposite to this positive trend in online gaming, traditional land-based casinos noted a slight decline of 0.9%, with the total revenue generated by brick-and-mortar establishments falling to $12.38 billion.
Yet, despite the nationwide economic challenges, land-based operators have reportedly benefited from continued demand and new casino openings, keeping this industry segment somewhat stable despite the losses.
Bill Miller, Chief Executive Officer and President of the American Gaming Association, commented:
Looking ahead to 2025, I see tremendous opportunity. The age of our industry’s average casino visitor has dropped from 50 to 42, a shift that speaks volumes about our industry’s ability to evolve and attract new generations of customers.
Moreover, the AGA also talked about regulatory developments, pointing out efforts to battle illegal gambling operators and to ensure nationwide compliance.
Bill Miller further mentioned the AGA’s recent legal victory in the state of Virginia against unregulated gaming machines as the perfect example of the commitment of the industry to ensure fairness and the safety of the consumers.
