The U.S. commercial gaming industry continued its record-breaking streak in the third quarter of 2024, achieving a total revenue of $17.71 billion. This marked the industry’s highest-grossing third quarter on record, as reported by the American Gaming Association (AGA), and extended a remarkable 15-quarter streak of consecutive annual revenue growth. September also marked the 43rd consecutive month of rising year-over-year revenue, showcasing the industry’s sustained expansion.
Sports wagering and iGaming played significant roles in this growth, with online gaming revenues in New Jersey surpassing live casino revenues for the first time in October. “Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth,” said David Forman, AGA Vice President of Research. He also noted that the opening of new brick-and-mortar casinos further supported traditional gaming, which still accounts for the majority of industry revenue. Notably, online gaming now represents over a quarter of total commercial gaming revenue, underlining the importance of continued sustainable growth in states with active online markets.
Key Financial Figures
Through the first nine months of the year, the industry recorded $53.24 billion in commercial gaming revenue, marking an 8% increase from 2023 and setting the stage for a fourth consecutive year of record-breaking earnings.
In the third quarter, 29 of the 35 operational commercial gaming jurisdictions saw year-over-year revenue growth. This translated to an 8.9% increase in state and local taxes tied to gaming, with operators contributing $3.79 billion in taxes during the quarter.
Quarterly revenue from land-based gaming reached $12.56 billion, slightly down by 0.62% compared to the same period last year. Meanwhile, online sports betting and iGaming together generated $5.14 billion, with online gaming accounting for 29% of total gaming revenue—up significantly from the previous year. Here’s a breakdown of the third-quarter revenue:
Traditional Gaming: Land-based casino gaming generated $12.38 billion in revenue, a decrease of 0.9% year-over-year.
Legal Sports Betting: Americans wagered $30.3 billion on sports, resulting in $3.24 billion in revenue, an increase of 42.4%. New market launches in Kentucky, Maine, North Carolina, and Vermont contributed to this growth.
iGaming: Online gaming generated $2.08 billion, reflecting a 30.3% year-over-year increase.
The AGA’s Commercial Gaming Revenue Tracker offers detailed insights into the financial performance of the commercial gaming industry across 37 states and the District of Columbia, which all feature operational commercial gaming markets. The tracker excludes data from tribal casinos.
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