US Commercial Gaming Has Record Fourth Year for 2024

The American Gaming Association (AGA) reported that US commercial gaming revenue reached a record $72.4 billion in 2024. This marks the fourth consecutive year of all-time high earnings for the industry.

The 7.5% year-over-year increase was driven by growth in online gaming and sports betting. Online gaming accounted for 30% of total revenue, generating $21.54 billion – a new annual record.

Out of 38 active commercial gaming jurisdictions, 28 set new revenue records, showing strong nationwide growth. Meanwhile, North Carolina and Vermont joined the market for the first time after launching mobile sports betting in 2024.

Commercial gaming operations generated $15.9 billion in tax revenue for governments, an 8.5% increase from 2023 levels.

Online Sports Betting and iGaming Doing the Numbers for US Commercial Gaming

Traditional casino games earned $49.89 billion last year, rising just 1% despite steady in-person activity. However, mobile sports betting, online sportsbooks, and iGaming drove most of the industry’s growth in 2024.

Sports betting revenue soared nearly 25%, reaching $13.78 billion, as Americans wagered a record $149.9 billion. The AGA recently projected $3.1 billion in March Madness 2025 bets, up 13.8% from last year. 

This growth highlights strong momentum in U.S. sports betting, even without new states legalizing it since March 2024.

Meanwhile, online casino gaming jumped 28.7%, totaling $8.41 billion in revenue across participating states.

For example, Rhode Island added $26.3 million after launching iGaming in March, contributing to the nationwide surge. The rise in real money online casino gaming contributed to the industry’s success, reflecting changing consumer preferences.

Casino Executives Optimistic Amid Slowdown for Q1 of 2025

The AGA’s Gaming Conditions Index reported slower economic activity in early 2025, reflecting a cautious market outlook. However, casino executives and equipment makers show renewed optimism about near-term industry performance.

Nearly half of casino leaders expect revenue growth within 6 to 12 months, according to the AGA’s Gaming CEO Outlook. Many operators also plan to increase capital investment if conditions remain stable over the coming months.

Meanwhile, Wynn Resorts is delaying major renovations until tariff effects become clearer. The broader US commercial gaming economy shows mixed signals, with the Consumer Price Index expected to hit 3.6% in 2025. That’s up from 3% last year, mostly due to recently imposed tariffs.

Consequently, many American households have become more cautious with their discretionary spending. Still, casino hotels are experiencing strong demand for meetings and events, slightly exceeding pre-pandemic levels.