US generates $17.63bn in Q2 2024 gaming revenue
The industry’s 14th consecutive quarter of growth contributed $3.7bn in tax revenue.
The American Gaming Association (AGA) has announced that the US generated $17.63bn in commercial gaming revenue over the course of this year’s second quarter – making it the 14th consecutive quarter of industry growth in the United States.
In the nation’s highest-grossing second quarter in recorded history, $3.73bn of state taxes were also generated by America’s gaming industry. Gross gaming revenue (GGR) rose by 8.9% when compared to 2023’s second quarter, while H1 2024 GGR figures settled $35.48bn, a 7.7% yearly increase when compared to the initial half of last year.
From an industry-wide perspective, online gaming accounted for 28.6% of the total revenue generated during the quarter – with land-based gaming accounting for the remaining 71.4%
Growth was recorded across all sectors of the industry. Legal sports betting led the way with newly regulated markets Kentucky, Maine, North Carolina and Vermont contributing to a 35.3% yearly increase in quarterly revenue, which landed at a figure of $3.16bn. American’s also wagered a total of $31.75bn on sports during this year’s second quarter.
IGaming grew at a yearly rate of 25.2%, generating a Q2 GGR figure of $1.97bn – despite a marginal iGaming revenue decline of 0.7% in comparison to Q1 2024. Moreover, online gaming’s rate of growth also slowed by 12.5% when compared to Q2 2023 to 32.5% in this year’s second quarter.
Finally, traditional casino gaming also continued to grow, generating a quarterly revenue figure of $12.49bn – 1.8% higher than the GGR recorded during Q2 2023.
AGA VP of Research, David Forman, commented on the nation’s encouraging Q2 figures, saying: “While sports betting and iGaming continued to drive overall industry revenue growth in the second quarter, new brick-and-mortar property openings in Illinois, Nebraska and Virginia also led to rising traditional commercial gaming revenue.”
“Across the country, land-based gaming markets are seeing mixed year-over-year comparisons due to slower consumer spending economy-wide, which may continue to be a factor through the remainder of 2024.”
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