In its revenue report for July, the American Gaming Association (AGA) revealed a 3.1% rise in US commercial gaming income over the prior year. In an industry that has been flourishing for more than three years—exhibiting an astounding 41 months of straight yearly growth—this month represents another month of growth.
Year-to-Date Revenue Breaks Records
As of now, total commercial gaming revenue in the US has reached $41.23 billion. This figure represents a 7.2% increase over last year’s revenue for the same period. The report reveals that industry earnings from sports betting, iGaming, and traditional casino games soared to $5.71 billion in July alone, setting a new record for the month.
In July, the combined revenue from legal sports betting, iGaming, and traditional casino gaming generated $1.24 billion in state tax revenue. Overall, these markets have contributed $8.93 billion in gaming taxes so far in 2024.
The AGA reports that online sports betting and iGaming produced $1.48 billion in July, a 35.4% increase year over year. Online gambling is still thriving. On the other hand, revenue from land-based gaming decreased, falling 4.8% from July 2023 to that date. The month’s total income from land-based gambling was $4.22 billion.
This uneven performance serves as a reminder of how the gaming business is changing and how online platforms are becoming more popular while traditional venues continue to experience difficulties. It’s unclear how these developments will affect future revenue growth as the industry adjusts.
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