US gambling industry hits record $71.92B revenue in 2024

The US commercial gambling industry reached record-breaking heights in 2024, generating $71.92 billion in annual revenue, a 7.5% increase from 2023’s $66.5 billion.

According to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker, this is the fourth consecutive year of record growth. The industry also recorded its highest-ever quarterly revenue in Q4 2024, reaching $18.62 billion.

AGA President and CEO Bill Miller attributed this success to growing consumer engagement across traditional casinos, sportsbooks, and online gaming platforms. He reaffirmed the AGA’s commitment to fostering further industry growth while benefiting both consumers and the communities served by gaming operators.

Online gaming and sports betting played a key role in the industry’s record performance, accounting for 30% of total revenue, or $21.54 billion. Online casinos in seven regulated states contributed $8.41 billion, reflecting a 28.7% year-on-year increase. All six pre-existing iGaming markets set new annual records, while Rhode Island joined as the seventh regulated state.

Traditional retail casino gaming remained the dominant sector, generating $49.78 billion in revenue, showing steady growth from 2023. Out of the 27 states with commercial casinos, 12 achieved new revenue records, highlighting the continued strength of physical casino gaming despite the rise of digital alternatives. The Las Vegas Strip retained its position as the highest-grossing market, with Chicagoland, Baltimore/Washington D.C., New Jersey, and Queens/Yonkers rounding out the top five. The latter replaced the Mississippi Gulf Coast, which previously held a spot in the top tier.

Sports betting revenue surged to $13.71 billion, marking a 25.4% increase from 2023. The industry’s most profitable quarter occurred in Q4 2024, with operators generating $3.66 billion. This growth was fueled by a strong autumn sports calendar, with New Jersey and Illinois surpassing $1 billion in sports betting revenue for the first time.

Beyond revenue gains, the commercial gaming sector contributed significantly to state and local governments, paying an estimated $15.66 billion in gaming taxes—an 8.5% increase from 2023. These taxes, alongside additional contributions through payroll, corporate, sales, and income taxes, underscore the industry’s economic impact.

Miller emphasized that each dollar of gaming revenue supports jobs, investment, and broader economic development. As legal gaming expands, more states are exploring opportunities to capitalize on tax revenue and economic benefits.

The industry’s resilience and adaptability have been evident despite economic uncertainties, with continued innovation and investment shaping its future. While traditional casino gaming remains the largest revenue driver, the rapid rise of online gaming and sports betting signals an increasingly digital future for the industry.