Gaming Industry Tops $5.6 Billion in February Revenue

A new record has been set for revenue generated by traditional casino games, sports betting, and iGaming in the month of February. 

Grant Leonard - News Editor at Covers.com
Grant Leonard • News Editor
Apr 12, 2024 • 14:43 ET • 4 min read
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Commercial gaming revenue topped $5.61 billion in February, with year-over-year increases across every vertical. 

The American Gaming Association (AGA) reported the industry’s 36th straight month of annual growth and a new record has been set for revenue generated by traditional casino games, sports betting, and iGaming in the month of February. 

Revenue spiked 9% year-over-year compared to February 2023. Commercial gaming revenue now totals $11.46 billion through the first two months of 2024 which is 6.8% ahead of last year’s record pace which resulted in $66.5 billion total revenue for 2023. 

Impressively, 28 of 34 commercial gaming jurisdictions that were reporting data last February enjoyed a boost in combined revenue across all verticals year-over-year. 

Growth across all verticals

The traditional casino slot machine and table game segments remained the dominant revenue drivers for the commercial gaming industry, registering a combined $4.13 billion in February. This represents a 4% increase year-over-year, which earmarks a slightly slower growth trajectory than the industry’s digital offerings. 

Gross gaming revenue from slot machines came in at $2.91 billion for the month, a 1.8% year-over-year improvement, while table games saw a more sizable 12.8% increase with $916.2 million in revenue. 

Commercial sportsbooks generated $827 million in revenue across 31 jurisdictions that had already published their February data when the AGA created its report. That’s a 22.3% jump from February 2023. Americans wagered $10.49 billion on sports for the month, an increase of nearly 25% year-over-year. 

Legal sports betting operators have produced $2.31 billion in revenue so far in 2024, exceeding the same period in 2023 by 32.1%. 

The U.S. iGaming sector marked a new single-month revenue record as the six active legal markets generated nearly 31% more revenue compared to February 2023, totaling $648 million. Year-to-date revenue for this vertical climbed 25.7% year-over-year at $1.26 billion as well. 

The only vertical not to clock in a YTD improvement was in slot machines, where the $5.63 billion revenue for the first two months of 2024 declined 1.5% from the same period in 2023. 

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Grant Leonard - Covers
News Editor

Grant is a former junior B ice hockey player, and a current believer that the Washington Capitals’ aging core still has another Cup run left in the tank. Grant’s owned and operated his own marketing agency since shortly after graduating from Virginia Tech in 2014. He pursued the profession because he figured it’d be a great way to get paid to do something he loves to do, write. After years of hammering puck lines and leading his fantasy football league as Commissioner, Grant started writing about sports betting and the casino gaming industry in 2021 and hasn’t looked back.

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