The commercial gaming industry saw a new revenue record for the fourth consecutive year in 2024, according to data from the American Gaming Association (AGA). Total revenue reached $71.92 billion, a 7.5% increase from 2023.

With the inclusion of tribal gaming revenue, which will be reported by the National Indian Gaming Commission later this year, total U.S. gaming revenue is expected to reach $115 billion.

“By all accounts, 2024 tells a positive story about our industry’s strength and momentum,” AGA President and CEO Bill Miller said in the group’s ‘State of the Industry’ webinar as part of the release of the 2024 Commercial Gaming Revenue Tracker. “Commercial gaming continues to demonstrate unprecedented, continued success.”

Live Gaming Numbers Rise

The picture wasn’t completely rosy. December revenue was $6.16 billion, falling 2% compared to the same month in 2023. This was the first monthly drop in almost four years, however, and the fourth quarter still set a record.

“The first annual contraction in 46 months was driven by significantly lower sports betting revenue due to a low hold rate,” the AGA noted.

In-person gaming had a record year with slot machines, table games such as blackjack, and retail sports betting accounting for $50.32 billion, or 70% of 2024 revenue. Slots generated $36.06 billion, up 1.6%, while table game revenue contracted by 1.7% to $10.14 billion. Retail sports betting continued to see significant growth, surging 25.4% to $13.71 billion.

The recent Super Bowl showed just how big Americans appetite for sports betting has become.

Online Gaming Continues Upward Trend

Americans continue heading online to wager as iGaming had another strong year. Online casino gaming and sports betting generated $21.54 billion, or 30% of total revenue. Online casino numbers grew 28.7% year over year to $8.4 billion.

National revenue growth was driven almost entirely by online betting in 2024. Online gaming (sports and casino) now generates the majority of commercial revenue in 13 states, including bigger markets like Michigan, New Jersey, and Pennsylvania.

Billions Sent To State And Local Governments

State and local governments continued to benefit from the industry’s success in 2024. Commercial gaming operators paid an estimated $15.66 billion in gaming taxes, an 8.5% increase from 2023. In the fourth quarter, operators paid an estimated $4.01 billion in taxes, 8.4% higher than the same period in 2023.

“It’s important to note that these gaming tax figures include state and local taxes directly linked to gaming revenue, which are reported on a monthly or quarterly basis,” the AGA noted. “They do not include annual fees or sports betting excise tax payments to the federal government. Additionally, these figures do not encompass the billions more paid by the industry in terms of income, sales, payroll, and various corporate taxes.”

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