The American Gaming Association (AGA) has announced that US commercial gaming revenue is projected to exceed $67 billion in 2024, marking the fourth consecutive year of record-breaking growth for the industry. The forecast comes on the heels of an impressive third quarter, which saw gaming revenue reach a historic $17.71 billion—the highest Q3 total ever recorded.
Online Gaming Drives Growth
Online gaming continues to be the primary driver of the industry’s expansion. In Q3 2024 alone, iGaming revenue surged by 30.3% to $2.08 billion, while sports betting revenue increased by 42.4% to $3.24 billion. Together, these online channels accounted for 29% of the industry’s total revenue, underscoring their significant role in shaping the modern gaming landscape.
Despite slight declines in traditional brick-and-mortar casino revenue—down 0.9% year-over-year to $12.38 billion—the segment remains stable. New casino openings and sustained consumer demand have helped offset broader economic challenges, allowing land-based operations to maintain their footing.
Industry Resilience Amid Challenges
Speaking on the industry’s performance, AGA President and CEO Bill Miller highlighted its adaptability and forward-thinking approach:
“Our industry continues to demonstrate its strength, reaching new audiences and creating experiences that were hard to imagine just a few years ago,” Miller stated. “From the exciting convergence of sports, gaming, and entertainment to expansion into new markets, we’re redefining what it means to be in the gaming business today.”
Miller also pointed to key legal and regulatory victories, such as a significant win against illegal skill game operators in Virginia, as evidence of the industry’s commitment to maintaining integrity and transparency.
Responsible Gaming and Future Growth
Looking ahead, the AGA plans to launch a new responsible gaming campaign in 2025, aiming to further unite the industry and enhance consumer protection. This initiative will build on the industry’s longstanding commitment to responsible practices, which Miller views as essential for sustainable growth.
Additionally, demographic shifts are reshaping the industry. The average age of casino visitors has dropped from 50 to 42, indicating a growing appeal among younger audiences. This trend, coupled with the ongoing integration of sports, gaming, and entertainment, presents significant opportunities for innovation and growth in 2025 and beyond.
Tax Contributions and Economic Impact
In Q3 alone, the commercial gaming industry contributed $3.79 billion in taxes, an 8.9% increase compared to the same period in 2023. This underscores the sector’s vital role in supporting state and local economies through job creation, tourism, and substantial tax revenue.
As the year concludes, the industry remains on track to achieve its ambitious $67 billion revenue target, driven by growth across all gaming verticals and an unwavering commitment to excellence.
Source:
U.S. Gaming Industry Hits Record $67B Revenue, Eyes Growth in 2025, World Casino Directory, December 24, 2024.
