Key points:
- The AGA reported a total GGR of just over €69bn generated by US gamblers throughout 2024, representing an increase of 7.5% year-over-year
- iGaming also continues to build a significant presence within the US, as the revenue generated from iGaming operations accounted for 30% of the total GGR reported by the AGA
The American Gaming Association (AGA) held a webinar on February 19 to discuss the financial results of the gaming industry throughout 2024, including a gross gaming revenue (GGR) of $71.9bn (€69bn), equating to an increase of 7.5% year-over-year. While the continued growth was celebrated by the AGA, President and CEO Bill Miller was also sure to state that this legal gaming success makes the US a “target” for illegal gambling operations.
Miller stated that operators in verticals such as sweepstakes casinos and offshore sports betting “exploit consumer confusion” and “threaten to undermine the public trust” gaming has built with US residents over the years. In order to counteract these concerns, Miller estimated that the AGA invested €453.3m into responsible gaming initiatives throughout 2024 as fear continues to rise around the industry.
The AGA President and CEO also spoke on the new political administration moving into office, as the Association is “optimistic” about finding ways to work with President Donald Trump’s current team of government officials. Miller referred to the federal relief provided by President Trump’s administration during the Covid-19 pandemic, and how the assistance represented a “testament to gaming’s positive role” within the US economy.
While Miller stated that many political leaders are still “unaware of the risks” that come with illegal gambling operations, the AGA is constantly working with regulators to inform the administration and a “closely divided congress” of the harms that can be introduced to residents.
The AGA also highlighted the “resilience” shown by many areas where gaming is most popular within the US, including the Las Vegas strip, which saw decreases in revenue from the prior year period but maintained its position as the top market by commercial revenue.
Good to know: Over the course of the full-year 2024 period, traditional casino GGR was once again the US’ primary revenue driver, with a reported GGR figure of €46.8bn
David Forman, VP of Research for the AGA, was asked about the expected revenue generated by Tribal gaming throughout 2024, estimating that when accounting for Tribal contributions, the total GGR during 2024 would rise to nearly €110.4bn. The figure would represent over €38.4bn in Tribal gaming revenue, including an estimated €15.4bn in gambling tax revenue that is returned directly to the Tribes and its respective lands.
Forman also spoke on the decrease in revenue from the Las Vegas strip area, but highlighted how Reno/Sparks, Downtown Las Vegas and other regions within Nevada managed to see increases despite the fall in revenue from its most popular area.
A notable concern brought forth by Miller was the lack of significant growth from brick-and-mortar casinos, while 30% of the total GGR reported during 2024 was generated through iGaming. While Miller stated that some around the industry are fearful of a “cannibalization” effect taking place, many states have yet to legalize iGaming due to the “appreciation” it holds for traditional Land-based establishments.
Miller highlighted that despite numerous states finding ways to legalize some form of sports betting since PASPA was repealed a few years ago, only a handful allow for iGaming offerings to residents.
