US gaming sector thrives with record $72 billion revenue in 2024: Report
US commercial gaming revenue hit a record $72 billion in 2024, up 7.5 percent from the previous year. This marks the fourth consecutive year of growth for the industry, according to the American Gaming Association (AGA). This report highlights the performance of the US commercial casino industry in 2024.
Record-breaking revenue in 2024
The US commercial gaming sector crushed previous records by raking in $72 billion in 2024, up 8.1 percent from 2023. Despite inflation and economic uncertainties, Americans keep doubling down. When combined with tribal gaming’s performance, the entire US gaming industry generated close to $115 billion in gaming revenue in 2024.
The that 2024 marked a fourth consecutive year of record revenue for the commercial casino gaming industry, and annual gaming revenue has increased in each of the last 10 years, except for the COVID-19 impact in 2020.
Gambling participation rates
In the past year, more than half of American adults participated in some form of gambling (55 percent). Furthermore, 45 percent of American adults visited a casino property in the past year. Sports betting engagement also saw a significant number of adults participating, with 21 percent placing a sports bet.
Crucially, nearly 9-in-10 Americans (88 percent) find casino gambling acceptable for themselves or others, and gambling acceptance has remained consistent for over a decade. Notably, 59 percent of Americans found gambling personally acceptable in 2024, marking an all-time high. This positive public perception forms the foundation of the industry’s credibility with the public, regulators, and lawmakers.
Economic impact of the gaming industry
The record gaming revenue generated by commercial gaming operators translated into a new high in direct gaming tax revenue paid to state and local governments and other beneficiaries.
Total direct gaming tax payments reached $15.91 billion in 2024, an 8.5 percent increase from 2023. This figure accounts explicitly for state and local taxes applied directly to gaming activities. The AGA, as the national trade group for the US casino industry, highlights that the $329 billion industry supports 1.8 million jobs across the country.
Responsible gaming takes center stage
In 2024, responsible gaming remained a key focus for the industry, state policymakers, and regulators. The industry’s annual commitment to responsible gaming reached nearly half a billion dollars, with $471.8 million invested in 2023, a 72 percent increase from 2017.
New responsible gaming programs or funding streams were announced in Michigan, New Jersey, and the District of Columbia. In contrast, statewide self-exclusion programs were established or enhanced in Maine, New Jersey, and North Carolina. Additionally, regulators and lawmakers in New York and West Virginia took steps to facilitate research on responsible gaming and problematic gambling.
According to the report, 65 percent of Americans believe the industry is dedicated to promoting responsible gaming and addressing problem gambling, up from less than 40 percent in 2018. This confidence is even higher among those who directly engage with the industry.
State performance highlights
In 2024, 28 of the 38 jurisdictions with commercial casino or sports betting operations saw an increase in gaming revenue. Notably, 27 states and the District of Columbia reported record annual commercial gaming revenue.
In 2024, Nevada remained the largest commercial gaming state, surpassing $15 billion in revenue for the second consecutive year. Pennsylvania and New Jersey both set new records, each exceeding $6 billion in annual revenue, driven by strong iGaming growth.
Pennsylvania also led the nation in direct tax revenue from commercial casino gaming. New York crossed the $5 billion mark in overall commercial casino gaming revenue for the first time and remained the largest sports betting market, with over $2 billion in annual sports wagering revenue.
Illinois experienced significant growth, with a 15.8 percent increase, reaching $2.92 billion in revenue due to the expansion of its land-based market and mobile sports betting.
Michigan’s internet gaming market boosted its total revenue to a record $4.19 billion, up 17.1 percent, with licensed online casinos generating over $2 billion in iGaming revenue.
iGaming revenue across the seven states with legal online casinos reached $8.41 billion, a 28.7 percent increase, with Delaware and West Virginia seeing robust growth. Sports betting revenue from commercial operations totalled $13.78 billion, up 24.8 percent, driven by a 27 percent increase in online revenue.
Revenue growth and market trends
Commercial sports betting brought in $13.78 billion, up 24.8 percent. Whether it’s fantasy leagues or Super Bowl bets, the market’s hotter than ever. Over 27 percent of all sports betting revenue came from mobile platforms. In stark contrast, revenue from retail sports betting dropped more than 23 percent.
