The final quarter of 2024 also set a new record for the highest single-quarter revenue in U.S. gaming history, with Q4 earnings hitting $18.62 billion.
Q4 2024: A Historic Quarter for U.S. Gaming
The final quarter of the year saw commercial gaming revenue reach an unprecedented $18.62 billion, with growth fueled primarily by:
- Traditional casino gaming, which generated $12.59 billion, up 2.3% year-on-year.
- Sports betting revenue, which climbed 7.3% to $3.66 billion as major sporting events boosted betting activity.
- iGaming revenue, which reached $2.38 billion, marking an impressive 33.1% year-over-year growth—the highest increase among all gaming sectors.
Full-Year 2024: Key Revenue Drivers
Throughout 2024, brick-and-mortar casinos remained the dominant force in the industry, generating $49.78 billion in revenue. However, sports betting and online gaming saw the most significant growth, driven by legislative expansions and increased player participation.
- Sports betting revenue totaled $13.71 billion, a 25.4% increase over 2023, supported by new state-level regulations.
- iGaming revenue hit $8.41 billion, marking a 28.7% growth year-over-year as the sector continued to expand across multiple states.
- Traditional casino gaming revenue grew by 0.8%, demonstrating stable performance across the industry.
State-Level Records and Market Performance
The latest AGA report highlights record revenue figures across multiple U.S. gaming markets.
- 12 out of 27 states with traditional gaming operations reported their highest-ever revenue figures in 2024.
- All six iGaming markets set annual records, with New Jersey and Illinois each surpassing $1 billion in sports betting revenue for the first time.
- The Las Vegas Strip remained the top commercial gaming market, followed by New Jersey, Chicagoland, Baltimore, and Washington, D.C.
- The Queens/Yonkers market entered the top five U.S. gaming markets, overtaking the Mississippi Gulf Coast.
Rising Tax Contributions and Industry Outlook
With record-breaking revenue, the commercial gaming sector also contributed significantly to state and local governments.
- The industry paid an estimated $15.66 billion in gaming taxes, an 8.5% increase over 2023.
- Additional tax contributions were made through corporate, payroll, and sales taxes, further reinforcing the industry’s economic impact.
Bill Miller, AGA President and CEO, commented on the sustained growth, stating:
“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 AGA will provide further insights into full-year 2024 gaming revenue trends and its priorities for the industry in its upcoming State of the Industry webinar on February 19.
Source:
2024 Commercial Gaming Revenue Reaches $71.9B, Marking Fourth-Straight Year of Record Revenue, americangaming.org, February 19, 2025.