U.S. commercial gaming revenue hits record $71.9 billion in 2024

The U.S. commercial gaming industry achieved a record-breaking $71.92 billion in revenue in 2024, marking its fourth consecutive year of growth, according to a report by the American Gaming Association (AGA). The sector grew 7.5% from 2023, fueled by strong online betting and sports wagering, though growth is showing signs of slowing.  

With the inclusion of tribal gaming revenue, expected to be reported later this year, total U.S. gaming revenue is projected to approach $115 billion.  

The fourth quarter of 2024 set a new record, with commercial gaming revenue reaching $18.62 billion (+6.2% YoY). However, December saw a 2% annual decline, marking the first contraction in nearly four years, due largely to lower-than-expected sports betting hold rates.  

While traditional in-person gaming remains dominant, generating $50.32 billion (70% of total revenue) for the year, the online segment continues to expand rapidly, accounting for $21.54 billion (30% of total revenue).  

• Slot machine revenue reached $36.06 billion (+1.6% YoY).  
• Table game revenue fell to $10.14 billion (-1.7% YoY).  
• iGaming revenue surged 28.7% YoY to $8.40 billion.  
• Sports betting revenue jumped 25.4% to $13.71 billion.  

The booming industry generated $15.66 billion in state and local gaming taxes (+8.5% YoY), benefiting public programs across the country.  

Of the 36 commercial gaming jurisdictions, 28 achieved new annual revenue records. The states that experienced the highest growth in traditional casino gaming were Nebraska, Virginia, and Illinois. Nebraska saw a significant increase of 60.1%, Virginia recorded a growth of 32.0%, and Illinois experienced an 11.0% rise, all driven by the opening of new casinos.

Among sports betting markets, Illinois surpassed New Jersey to become the second-largest U.S. market, achieving a growth rate of 21.1%. Meanwhile, Massachusetts experienced a significant revenue increase of 38.8%, elevating it to seventh place.

Despite remaining the largest U.S. gaming market, the Las Vegas Strip saw a 4.4% revenue decline in 2024. However, other Nevada markets grew, with:  

• Downtown Las Vegas rising from 17th to 13th largest U.S. gaming market.  
• Reno-Sparks climbing to the 11th largest market.  
• Boulder Strip retaining its position as the 10th largest market.  

Americans legally wagered $147.91 billion on sports in 2024 (+23.6% YoY), with 95% of bets placed online. Despite volatility in sportsbook hold rates, revenue still grew 25.4% to $13.71 billion.  

The iGaming sector saw explosive growth, reaching $8.41 billion (+28.7% YoY), with key markets including:  

• Pennsylvania ($2.71B, +28.5%)—the largest iGaming market in the U.S.  
• Michigan and New Jersey, both surpassing $2 billion in annual iGaming revenue.  
• Rhode Island launched iGaming in Q1 2024, further expanding the market.  
• Q4 2024 set a new iGaming revenue record at $2.38 billion (+33.1% YoY).  

Despite the overall positive results, AGA President and CEO Bill Miller reiterated concerns over the impact of illegal gambling: "Illegal operators cost legal operators $44.2 billion in gaming revenue and shorted state governments by $13.3 billion in lost tax revenue."  

He emphasized the need for stronger enforcement at the state and federal levels: "They exploit consumer confusion between legal and illegal operators, run through regulatory loopholes, and threaten public trust in gaming."  

Meanwhile, Jason Giles, Executive Director of the Indian Gaming Association, highlighted the economic contributions of tribal gaming: "Indian gaming generated over $42 billion in gross revenues, which directly benefits tribal communities and citizens."  

As for other takeaways, Chicagoland strengthened its position as the third-largest gaming market, fueled by the opening of new casinos. This expansion contributed to the region's growing prominence in the industry.

Meanwhile, Resorts World New York City retained its status as the highest-grossing casino outside Nevada, highlighting its continued dominance. Additionally, Rivers Casino Portsmouth in Virginia quickly emerged as a top-grossing property, achieving remarkable success in just its second year of operation.

Looking ahead, Missouri legalized sports betting at the end of 2024, though operations have yet to launch. Industry leaders are also monitoring potential trade and tariff impacts on gaming equipment manufacturing.