US commercial gaming revenue hit a record-breaking $72 billion in 2024, with online gambling accounting for a significant 30% of that total.
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Say goodbye to those old records, because 2024 smashed them all with a whopping $72 billion in commercial gaming revenue across the USA! That's not just a simple uptick — it's the fourth year in a row breaking records!
With a 7.5% increase over 2023's $66.5 billion, this year saw a phenomenal $18.6 billion in Q4 revenue. But what's really captured the spotlight?
Online gambling's popularity has skyrocketed, accounting for a hefty 30% of this year's milestone. However, land-based games like table games and slot machines still reign supreme.
Sports betting surged 25% to $13.7 billion, while digital casinos counted $8.4 billion despite only seven states offering the option. The Las Vegas Strip remained on top, but Queens/Yonkers replaced the Mississippi Gulf Coast in the top five.
Taxing times were great for local and state governments, with operators coughing up about $15.7 billion in gaming taxes last year.
AGA President and CEO Bill Miller believes the sector will keep growing, fueling jobs, investment, and economic expansion. He ain't jokin' when he says every dollar of gaming revenue is like rocket fuel for the economy.
There've been some key factors powering this revenue tsunami:
- Casino Industry Growth: Big names like Caesars Entertainment expanded their US portfolio, leading to higher industry revenue.
- Sports Betting BOOM: With 39 states plus DC legalizing sports betting and the total betting handle soaring to over $423 billion, sports betting has become a growth monster.
- Technological Advancements: Online and live casino operators amped up the gaming experience with around 100 new game launches in 2024, including popular game show categories, interactive features, and AI-driven slot recommendations.
- Favorable Consumer Environment: The surge in mobile gaming (71% revenue in 2024) and live casino growth (16.6% rise in 2024 compared to 2023) show the power of technology in driving growth in the gaming sector.
And don't forget about video games, which contributed considerably to economic growth, with US video game sales reaching $59.3 billion in 2024.
So, strap in, folks — it's clear the gaming sector has nowhere but up to go!
In 2024, the Yonkers casino-and-gambling industry saw a significant increase in revenue, contributing to the nationwide commercial gaming revenue of $72bn. This remarkable growth also extended to the casino games sector, with tax revenues amounting to approximately $15.7bn. Despite the rise in online gambling, accounting for 30% of the revenue, traditional casino games like table games and slot machines still dominated.
