US gaming revenue sets new record in 2024
It was the fourth consecutive year of growth.
US.- Commercial gaming revenue reached an annual record of $71.92bn in 2024, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. The total surpasses 2023’s $66.5bn by 7.5 per cent, marking the industry’s fourth year of growth.
With the inclusion of tribal gaming revenue, which will be reported by the National Indian Gaming Commission later this year, total 2024 U.S. gaming revenue is expected to approach $115bn.
December revenue fell two per cent compared to the prior year, to $6.16bn. The first annual contraction in 46 months was driven by significantly lower sports betting revenue due to a low hold rate. Despite the December revenue decline, the fourth quarter saw a 6.2 per cent year-over-year increase as commercial gaming revenue reached $18.62bn, a new quarterly record.
In-person gaming has record year, online segment claims almost a third of growing revenue pie
Most of the primary verticals within the gaming industry set revenue records in 2024, including casino slots, sports betting and igaming.
Slot machines generated $36.06bn, up 1.6 per cent, while table game revenue contracted by 1.7 per cent year-over-year to $10.14bn. Collectively, traditional casino slots and table games generated $49.78bn in revenue, an increase of 82 basis points compared to 2023.
Sports betting continued to see significant growth, increasing 25.4 per cent from 2023 and reaching $13.71bn in revenue. igaming also had another strong year, expanding 28.7 per cent year-over-year to $8.40bn.
In-person gaming remains the bedrock of the industry despite online gaming claiming an increased slice of the revenue pie in 2024. Commercial land-based gaming—encompassing casino slot machines, table games and retail sports betting—accounted for $50.32bn, or 70.0 per cent, of total revenue in 2024. Meanwhile, online gaming—comprising online sports betting and igaming—generated $21.54bn, 30.0 per cent of total revenue.
Gaming taxes provide $15.66bn for state and local governments
State and local governments across the country continued to benefit from the industry’s success in 2024. Commercial gaming operators paid an estimated $15.66bn in gaming taxes last year, an 8.5 per cent increase compared to 2023.
In Q4, commercial gaming operators paid an estimated $4.01bn in gaming taxes, 8.4 per cent higher than Q4 2023.
It’s important to note that these gaming tax figures include state and local taxes directly linked to gaming revenue, which are reported on a monthly or quarterly basis. They do not include annual fees or sports betting excise tax payments to the federal government. Additionally, these figures do not encompass the billions more paid by the industry in terms of income, sales, payroll and various corporate taxes.
