Key points:
- Q3 2024 commercial gaming revenue reached $17.71bn, the highest Q3 on record
- Online gaming drove growth, contributing 29% of total revenue, while traditional gaming saw a slight decline
- Year-to-date revenue of $53.24bn keeps the industry on track for a fourth consecutive record year
The American Gaming Association (AGA) has reported that US commercial gaming revenue reached $17.71bn in the third quarter of 2024 (Q3).
This marks the highest-grossing third quarter in the industry's history and extends its streak to 15 consecutive quarters of annual revenue growth.
September 2024 also marked the 43rd straight month of year-over-year revenue increases.
Through the first nine months of the year, total revenue stands at $53.24bn, up 8.0% from 2023. With this trajectory, 2024 is poised to become the fourth consecutive record-breaking year for the industry.
Online gaming emerged as a key growth driver. Combined revenue from iGaming and online sports betting reached $5.14bn in Q3 2024, representing 29% of total commercial gaming revenue – up significantly from Q3 2023.
iGaming alone grew 30.3% year-over-year to generate $2.08bn, while legal sports betting revenue rose 42.4% to $3.24bn – fueled by recent market expansions in Kentucky, Maine, North Carolina and Vermont.
Conversely, traditional brick-and-mortar casino revenue contracted slightly, generating $12.38bn, a 0.9% year-over-year decline. Despite this, new casino openings continued to bolster the segment.
Commenting on these figures, David Forman, AGA Vice President of Research, stated: “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.”
The quarter also delivered significant benefits to state and local governments, with gaming operators contributing $3.79bn in taxes – an 8.9% increase compared to the previous year.
