USA gaming market grows for the third consecutive year

Garance Limouzy August 16, 2024

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USA gaming market grows for the third consecutive year

In the USA, commercial gaming revenue has reached $17.63 billion in Q2 2024. This figure represents the “highest-grossing Q2 performance on record” according to the American Gaming Association. This marks the 14th consecutive quarter of revenue growth for the industry.

In this period, 24 states saw an increase in gaming revenue compared to the same quarter last year. The commercial gaming sector generated $3.73 billion in state taxes.

Both land-based and online gaming sectors experienced growth. Land-based gaming, which includes physical casinos and sportsbooks, accounted for 71.4 percent of the total revenue. Online gaming, while still growing, saw its growth rate slow from nearly 44 percent in Q2 2023 to 32.5 percent in Q2 2024, and contributed the remaining 28.6 percent of the revenue.

Verticals overview

Revenue from brick-and-mortar casinos reached $12.49 billion in the second quarter, a 1.8 percent increase from the previous year.

The sports betting sector saw a 35.3 percent year-over-year increase, driven by new market entries in Kentucky, Maine, North Carolina, and Vermont. Americans wagered $31.75 billion, which translated into $3.16 billion in revenue.

Regarding iGaming, online casino games and other digital gaming platforms set a new record with $1.98 billion in revenue, marking a 26.1 percent rise from the previous year, as iGaming was finally introduced in Rhode Island in March.

David Forman, AGA Vice President of Research, explained, “While sports betting and iGaming remain key drivers of revenue growth, new brick-and-mortar properties in Illinois, Nebraska, and Virginia also contributed to the rise in traditional gaming revenue. However, the overall landscape is mixed due to a broader slowdown in consumer spending, which may persist through the end of the year.”

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