The American Gaming Association (AGA) has released the financial results for the fourth quarter and fiscal year 2024 of the US commercial market, setting an annual gaming revenue record for the fourth consecutive year, with the figure reaching $71.92 billion.
This latest data comes from AGA's commercial gaming revenue tracker, which is 7.5% higher than the record set in 2023. Additionally, the revenue for the fourth quarter of 2024 also reached $18.62 billion, further setting a new historical high for quarterly gaming revenue in the US market.
Fourth Quarter of 2024
Specifically for the fourth quarter performance, the total revenue of $18.62 billion was mainly driven by traditional casino gaming, which accounted for $12.59 billion this quarter. This means the industry saw a year-over-year growth of 2.3%. Moreover, sports betting revenue reached $3.66 billion, growing 7.3% compared to the same period last year.
However, despite the lowest revenue from online gaming, only $2.38 billion, it saw the largest growth rate—compared to the financial data of the fourth quarter of 2023, the industry's revenue increased by 33.1%.
Fiscal Year 2024
Throughout the year, traditional casino gaming once again became the main source of revenue in the US, with gaming revenue reaching $48.79 billion. Sports betting and iGaming followed closely behind, with revenues of $13.71 billion and $8.41 billion, respectively.
In terms of year-over-year growth, the traditional casino industry's revenue modestly grew by 0.8% in 2024. However, due to the regulation of the practice by several states within the calendar year, sports betting revenue grew by 25.4% compared to the results of 2023. Similar to the last quarter of 2024, online gaming experienced the fastest growth rate throughout the year, with GGR increasing by 28.7% compared to 2023.
Highlights of 2024
In terms of growth, the American Gaming Association noted that the revenue generated by physical casinos reached a new historical high—12 out of 27 traditional gaming markets achieved record revenues in 2024. Additionally, six US iGaming markets also reported annual revenue records, with New Jersey and Illinois' annual sports betting revenues exceeding $1 billion for the first time.
Moreover, the contribution of the US commercial gaming industry to state and local governments also increased compared to previous years, with an estimated total of $15.66 billion in gaming taxes paid, an increase of 8.5% year-over-year.
AGA President and CEO Bill Miller commented on these latest figures, saying: "In 2024, Americans embraced a variety of legal gaming options—whether in casinos, sports betting, or online gaming—creating another record-setting year for our industry. Building on this success, AGA remains committed to fostering further growth, benefiting consumers, operators, and communities alike."
