written and last updated by
Sam Smith at
24 Dec 2024
Journalist, Editorial Department
The American Gaming Association (AGA) forecasts that the U.S. gaming industry will surpass $67 billion in revenue in 2024, continuing a four-year trend of record growth. According to the latest data, from January to September 2024, the gross gaming revenue in the country reached $53.24 billion, an 8% increase compared to the same period last year. The third quarter alone generated $17.71 billion, marking the most successful quarter in the industry's history.
Online gaming remains the key driver of this growth. Revenue from the iGaming sector surged by 30.3%, reaching $2.08 billion. Sports betting also saw a significant increase, rising by 42.4% to $3.24 billion. Together, the online sector accounted for 29% of the industry's total revenue.
In contrast, land-based casinos experienced a slight decline, with revenues dropping by 0.9% to $12.38 billion for the quarter. However, this segment remains stable due to the opening of new establishments and sustained demand, despite economic challenges.
Bill Miller, President and CEO of the AGA, stated, "Looking ahead to 2025, I see tremendous opportunities. Recently, the average age of casino visitors has decreased from 50 to 42 years. This indicates our industry's ability to evolve and attract new generations of customers."
In preparation for the upcoming year, the AGA plans to launch a campaign focused on responsible gaming. The association is also emphasizing its efforts to combat illegal operators, as evidenced by recent successes, including a legal victory against illegal slot machines in Virginia.
The gaming sector continues to be a vital source of tax revenue. In the third quarter of 2024, the industry contributed $3.79 billion to state coffers, an 8.9% increase from the same period last year. These funds play a crucial role in supporting regional and local budgets.
It is worth noting that the total revenue of the U.S. gaming industry increased by 8.9% in the second quarter of 2024.
