With less than two weeks until the President of the United States delivers his State of the Union Address to Congress on March 4, American Gaming Association (AGA) President and CEO Bill Miller delivered his annual state of the gaming industry Wednesday. His analysis: the state of gaming is strong.
A new U.S. commercial gaming revenue record was reached for the fourth consecutive year, with $71.92 billion collected in 2024. That was highlighted by a record Q4 that drew $18.62 billion in revenue, an all-time single-quarter record. The previous full-year record was $66.5 billion in 2023, which was eclipsed by 7.5% in 2024.
“In 2024, Americans embraced the diverse legal gaming options available to them—whether in casinos, at sportsbooks, or online—leading to another record-setting year for our industry,” said Miller in a news release. “As we build on this success, the AGA remains committed to fostering additional growth that benefits consumers, operators, and communities alike.”
Online gaming made up 30% of nationwide commercial gaming revenue last year, generating another annual $21.54 billion record.
Retail and online gaming revenue up
A breakdown of the industry sectors follows:
Brick-and-mortar (on-site retail locations) casino slots and table games generated a record $49.78 billion revenue in 2024, a growth of 82 basis points compared to 2023. On an individual state level, 12 out of 27 traditional gaming markets recorded new state revenue records last year.
Sports betting revenue topped $13.71 billion, a 25.4% increase from 2023’s $11.04 billion record. In addition, the fall sports calendar (primarily pro and college football seasons) propelled legal sportsbooks to their best quarter on record for the sixth straight year, earning $3.66 billion, up 7.3% from the previous record set in Q4 2023.
Two states - New Jersey and Illinois - exceeded $1 billion in annual sports betting revenue for the first time ever.
Online casino (iGaming) revenue grew 28.7% year-over-year to $8.41 billion in the seven states with full-scale legal iGaming (Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, West Virginia).
State and local governments reaped commercial gaming benefits as well in 2024, as operators paid a whopping $15.66 billion in gaming taxes, an 8.5% year-over-year increase, as well as billions of dollars through income, sales, payroll and other corporate taxes.
“The sustained growth of legal gaming is a win for our industry and the consumers and communities we serve,” said Miller. “Every dollar of gaming revenue fuels jobs, investment, and economic growth—reinforcing why the legal industry’s expansion is so important.”
