The U.S. gaming industry marked a monumental year in 2024, with revenues climbing to an unprecedented $71.92 billion, as reported by the American Gaming Association (AGA). This figure not only surpasses the previous year’s total by 7.5% but also sets a new annual record, continuing a four-year trend of record-breaking performances. The peak of this achievement came in the fourth quarter, where revenues hit an all-time high of $18.62 billion.

Embracing diverse gaming options: 

Bill Miller, President and CEO of the AGA, expressed his enthusiasm, stating in AGA’s press release, “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. As we build on this success, the AGA remains committed to fostering additional growth that benefits consumers, operators, and communities alike.”

The surge in revenue was primarily driven by robust performances across all gaming fronts. Brick-and-mortar casinos continued to be the backbone of the industry, with slots and table games generating a remarkable $49.78 billion. Notably, 12 out of 27 traditional gaming markets set new revenue records in 2024.

Sports betting also saw significant gains, with total revenues reaching $13.71 billion, marking a 25.4% increase from 2023. This sector was particularly boosted by a vibrant fall sports calendar, leading to the most lucrative quarter in history for legal sportsbooks, which garnered $3.66 billion, an increase of 7.3% from the last quarter of 2023.

Expanding online gaming and economic contributions:

Online gaming has also expanded, with revenues from iGaming operations growing by 28.7% to $8.41 billion in states with legal, full-scale online casinos. Every established iGaming market reported record revenues, illustrating the increasing popularity of online options.

Additionally, the commercial gaming industry made significant contributions to state and local economies, paying an estimated $15.66 billion in gaming taxes, an 8.5% increase over the previous year. These contributions underscore the vital role of the gaming industry in funding public services and infrastructure.

“The sustained growth of legal gaming is a win for our industry and the consumers and communities we serve,” Miller added. “Every dollar of gaming revenue fuels jobs, investment, and economic growth—reinforcing why the legal industry’s expansion is so important.”

Despite these successes, challenges such as illegal and unregulated gambling persist. During the AGA’s annual presentation, Miller highlighted the risks posed by these operations, which target vulnerable communities and operate without contributing to tax revenues. The AGA remains vigilant in its efforts to combat these unregulated entities, emphasizing the importance of maintaining the integrity and community well-being supported by the regulated gaming industry.

The industry’s outlook remains positive, with expectations for continued growth. Miller and other industry experts are set to provide more insights and discuss the AGA’s priorities for the upcoming year during the annual State of the Industry webinar scheduled for February 19.