- $72 billion in gaming revenues reported for 2024
- Local and state governments receive over $15 billion
- Fourth straight year of growth in gaming revenues
The US commercial gaming industry had a banner year in 2024 setting records with $72 billion of revenue.
As shared by the American Gaming Association’s (AGA) State of the States recent report, commercial gaming revenues were 7.5% higher in 2024 as compared to 2023.
The $72.04 billion in gaming revenues were driven by steady growth in sports betting and iGaming. Gaming revenues translated to $15.91 billion in tax revenues for state and local governments. This also set a new record, while being an 8.5% increase over the previous year.
Gaming Revenues Steadily Grown Since 2020
US commercial gaming revenues have continued to grow in recent years with 2024 marking the fourth consecutive year of growth.
The highest increase came on the iGaming side with revenues rising 28.7% to $8.4 billion. Sports betting also saw substantial increases, rising 25% to $13.78 billion. Meanwhile, traditional commercial casinos still accounted for the highest revenue at $49.89 billion, however, saw the smallest increase of just 1%.
2024 Commercial Gaming Revenue Highlights
- iGaming increases by 28.7%
- Sports betting increases by 25%
- Commercial casinos increase by 1%
- 28 of 38 states set record revenues
The record growth for American commercial gaming revenues in 2024 was aided by 28 of 38 states that offer commercial casinos, sports betting, or iGaming, setting new annual records.
According to the AGA report, 16 states saw double-digit increases in their commercial casino gaming consumer spend from 2023 to 2024. The biggest movers were the District of Columbia (181.7%) and Kentucky (148%).
Only eight states saw a decrease in revenues and in seven states the decrease was 3.5% or less. Only Montana (15.6%), saw a notable decrease in what is a minimal gaming market.
Two new states joined the commercial casino markets in 2024. This included North Carolina and Vermont, which generated $583.60 and $21.90 million in revenues respectively.
Future Outlook for Gaming
News isn’t all positive in the gaming industry after 2025 first quarter reports. The AGA’s Gaming Conditions Index fell 0.9%. This marks the largest drop during a quarter since the Covid-19 pandemic.
The Gaming Conditions Index measures real economic activity in the industry, measured by gaming revenue, employment, employee wages and salaries, executive sentiment and casino hotel RFP activity.
“AGA member companies face a landscape where consumers’ discretionary activities will be tested by tariffs on imported goods and stock market setbacks,” the AGA report mentions.
“AGA member companies face a landscape where consumers’ discretionary activities will be tested by tariffs on imported goods and stock market setbacks.” – American Gaming Association
According to the AGA, the drop in near-term sentiment is “primarily driven by weaker real wages, marginally negative sentiment, and real below average revenue growth.”
Of the 28 executives from AGA member companies surveyed, 36% reported a negative sentiment versus only 18% who were positive.
Longer term, most respondents were neutral (80%), while 14% were positive and only 4% negative.
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