The United States commercial gaming industry reached a new milestone in Q1 2024, with revenue hitting a record $17.67 billion. This achievement marks the 13th consecutive quarter of growth for the sector, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. The first quarter’s highlight was March, which saw revenue of $6.09 billion, making it the industry’s second-highest-grossing month ever.
AGA President and CEO Bill Miller commented on the industry’s sustained growth, stating: “While gaming’s momentum remains strong, 2024 will be the new baseline for future growth after several years of sports betting legalization and post-pandemic consumer shifts. Gaming’s continued growth relies on maintaining our commitment to innovation and responsibility.”
New Quarterly Records in Eleven States
Across the nation, eleven state gaming markets set new quarterly revenue records in Q1 2024, including major markets like Pennsylvania and New York, according to the report released by the American Gaming Association. Both retail and online gaming experienced annual growth, although at a slower pace compared to previous quarters. Retail gaming contributed 70.7 percent of the total revenue, while online gaming claimed its largest-ever share at 29.3 percent.
Brick-and-mortar casinos generated $12.34 billion in revenue, a slight year-over-year increase of 0.3 percent. This growth was tempered by severe weather in January affecting regional markets. On the other hand, the sports betting industry saw Americans wager a record $36.86 billion on sports in the first quarter, resulting in $3.33 billion in revenue, a 22 percent increase year-over-year. This growth was partly fueled by new market launches in Kentucky, Maine, North Carolina, and Vermont.
The iGaming sector posted an all-time high revenue of $1.98 billion in Q1, up 26.1 percent year-over-year, bolstered by Rhode Island’s market launch in March.
The AGA’s Commercial Gaming Revenue Tracker offers a comprehensive view of the financial performance of the U.S. commercial gaming industry, with insights based on state revenue reports. This tracker covers Q1 2024 results across 37 states and the District of Columbia, encompassing casino gaming, sports betting, and iGaming.
State of States Report Also Released
The AGA also released its annual State of the States report, providing a detailed economic and regulatory analysis of the U.S. commercial gaming industry in 2023. The report highlights a record $14.67 billion in direct gaming tax revenue paid to state and local governments, a 9.7 percent increase from 2022. This figure excludes additional billions paid in other forms of taxes.
The annual State of the States report by the AGA, developed in collaboration with VIXIO Regulatory Intelligence, details the financial performance of the commercial gaming industry. It includes analyses of the 36 jurisdictions with commercial gaming operations in 2023, providing a breakdown of the legality of various gaming types and the number of casinos per state. The report also summarizes major policy discussions and forecasts future opportunities and challenges for the industry.
“As gaming expands, more communities than ever are benefiting,” Miller continued. “We are proud to create jobs across the country, provide world-class entertainment experiences that offer safe alternatives to the pervasive illegal gambling market, and generate tax revenue to support critical public projects.”