In a testomony to the resilience and rising enchantment of the U.S. business gaming business, nationwide income surged to an unprecedented $17.63 billion in the second quarter of 2024. This spectacular determine, reported by the American Gaming Association (AGA) in its newest Commercial Gaming Revenue Tracker, marks the 14th consecutive quarter of annual income development. This achievement underscores the business’s strong restoration and persevering with enlargement throughout numerous gaming verticals.
Record-Breaking Quarter Amidst Nationwide Growth
The efficiency in Q2 2024 displays a nationwide development, with 24 jurisdictions experiencing year-over-year income will increase. This broad-based development is contributing to a big inflow of state taxes, amounting to $3.73 billion generated instantly from gaming actions.
The development was pushed by each land-based and on-line gaming sectors. Traditional land-based gaming, which incorporates brick-and-mortar casinos and sportsbooks, maintained its dominance, accounting for 71.4% of complete income.
However, on-line gaming continued to make vital inroads, contributing 28.6% of the general income. Although the expansion price of on-line gaming has slowed in comparison with the earlier yr, it stays a vital driver of the business’s total success.
Key Performance Insights by Gaming Vertical
Traditional Casino Gaming:
Traditional brick-and-mortar casinos generated $12.49 billion in income throughout Q2 2024, representing a modest but regular year-over-year development of 1.8%. The income good points in May and June helped offset a slower begin to the quarter in April, demonstrating the sector’s resilience regardless of broader financial challenges.
Sports Betting:
The authorized sports activities betting sector noticed a exceptional enhance, with Americans wagering $31.75 billion on sports activities in Q2 2024. This generated $3.16 billion in quarterly income, marking a considerable 35.3% year-over-year development. The enlargement of sports activities betting was bolstered by new market launches in Kentucky, Maine, North Carolina, and Vermont since final spring.
iGaming:
The iGaming sector achieved an all-time excessive, grossing $1.97 billion in Q2 2024, a 25.2% year-over-year enhance. This development was supported by the launch of Rhode Island’s iGaming market in March, additional cementing iGaming’s position as a big contributor to the business’s total income.
“While sports betting and iGaming continued to drive overall industry revenue growth in the second quarter, new brick-and-mortar property openings in Illinois, Nebraska, and Virginia also led to rising traditional commercial gaming revenue,” stated AGA Vice President of Research David Forman. “Across the country, land-based gaming markets are seeing mixed year-over-year comparisons due to slower consumer spending economy-wide, which may continue to be a factor through the remainder of 2024.”
Background
AGA’s Commercial Gaming Revenue Tracker supplies state-by-state and cumulative perception into the U.S. business gaming business’s monetary efficiency based mostly on state income experiences. This challenge highlights Q2 2024 outcomes.
37 states and the District of Columbia featured operational business gaming markets in Q2 2024, together with on line casino gaming, sports activities betting, and that iGaming. AGA’s State of Play Map charts gaming’s financial impression, business laws, and on line casino places on a state-by-state foundation for each the business and tribal gaming sectors.
Source:
Commercial Gaming Revenue Reaches $17.63B in Q2 2024, Marking Industry’s 14th Consecutive Quarter of Growth, americangaming.org, August 15, 2024.
