Key points:
- US commercial gaming revenue for Q3 2024 reached $17.71bn, marking the highest third-quarter total on record
- Online gaming accounted for 29% of total revenue, with iGaming and sports betting contributing significantly to growth
- Industry-wide revenue is projected to exceed $67bn by year-end, extending four consecutive years of record growth
The American Gaming Association (AGA) has projected US commercial gaming revenue will surpass $67bn in 2024, continuing a four-year streak of record-breaking performance.
The latest data shows that revenue through September totalled $53.24bn, an 8% increase year-on-year.
In the third quarter of 2024, commercial gaming generated $17.71bn, the highest Q3 performance recorded to date.
Online gaming emerged as the primary driver of growth, with iGaming revenue increasing by 30.3% to $2.08bn and sports betting revenue rising 42.4% to $3.24bn. Combined, online channels contributed 29% of the industry’s total revenue.
Traditional brick-and-mortar casinos experienced a slight 0.9% decline, generating $12.38bn during the quarter. However, the segment reportedly benefited from new casino openings and continued demand, maintaining stability despite broader economic challenges.
AGA President and CEO Bill Miller said: “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.”
Good to know: Looking ahead to 2025, the AGA plans to introduce a new responsible gaming campaign aimed at promoting sustainable growth and consumer protection. Miller highlighted bipartisan support for the gaming industry, with recent polling showing 70% approval among voters.
The AGA also addressed regulatory developments, stressing efforts to combat illegal operators and ensure compliance. Miller cited the recent legal victory in Virginia against unlicensed gaming machines as an example of the industry’s commitment to oversight and fairness.
The third quarter’s performance also delivered $3.79bn in gaming taxes, reflecting an 8.9% increase from 2023 and reinforcing the industry’s role in supporting state and local budgets.
