Q1 US commercial gaming revenue sets new quarterly high and marks 13th straight month of industry growth
AGA State of the States report has shown a record $14.67bn in 2023 commercial industry tax contributions.
Press release.- US commercial gaming revenue reached a quarterly record of $17.67bn in Q1 2024, the industry’s 13th consecutive quarter of growth, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. The quarter was punctuated by March revenue of $6.09bn, the industry’s second-highest grossing month ever.
AGA President and CEO Bill Miller said: “While gaming’s momentum remains strong, 2024 will be the new baseline for future growth after several years of sports betting legalization and post-pandemic consumer shifts. Gaming’s continued growth relies on maintaining our commitment to innovation and responsibility.”
Commercial gaming revenue tracker highlights
Across the country, 11 state gaming markets set new quarterly revenue records, including Pennsylvania and New York, two of the nation’s largest commercial gaming markets.
Both retail and online gaming saw annual growth in Q1 2024, though at slower rates than in previous quarters. Retail gaming accounted for 70.7 per cent of total revenue while online gaming represented its largest share ever, 29.3 per cent. Looking closer at each sector:
- Traditional gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.34bn, a modest increase of 0.3 per cent year-over-year that was hampered by severe January weather in regional gaming markets nationwide.
- Legal sports betting: Americans wagered a first-quarter record $36.86bn on sports in Q1, generating $3.33bn in quarterly revenue (+22.0 per cent year-over-year). The growth compared to Q1 2023 was in part driven by new market launches in Kentucky, Maine, North Carolina and Vermont.
- igaming: iGaming grossed an all-time high of $1.98bn in Q1, a 26.1 per cent year-over-year increase bolstered by Rhode Island’s iGaming market launch in March.
State of the States 2024
The AGA also released its annual State of the States report, which provides the definitive state-by-state economic and regulatory analysis of U.S. commercial gaming in 2023 for policymakers, gaming stakeholders and industry observers.
State of the States 2024 details the record $14.67bn in direct gaming tax revenue paid to state and local governments by commercial gaming operators in 2023—up 9.7 per cent from 2022. This does not include the billions more paid in income, sales or other taxes.
“As gaming expands, more communities than ever are benefiting,” continued Miller. “We are proud to create jobs across the country, provide world-class entertainment experiences that offer safe alternatives to the pervasive illegal gambling market, and generate tax revenue to support critical public projects.”
Background
AGA’s Commercial Gaming Revenue Tracker provides state-by-state and cumulative insight into the U.S. commercial gaming industry’s financial performance based on state revenue reports. This issue highlights Q1 2024 results.
37 states and the District of Columbia featured operational commercial gaming markets in Q1 2024, including casino gaming, sports betting and iGaming.
AGA’s State of Play Map charts gaming’s economic impact, industry regulations and casino locations on a state-by-state basis for both the commercial and tribal gaming sectors.
See also: Gaming CEOs optimistic on industry outlook, report evolving industry challenges
