The US commercial gaming industry has marked a significant milestone in Q3 2024, with total revenue reaching a record $17.71 billion. This represents an 8.1% year-on-year growth, extending the industry’s streak to 15 consecutive quarters of rising revenue. According to the American Gaming Association (AGA), this is the highest Q3 revenue ever recorded.
While traditional casino gaming still contributes the largest share of revenue, bringing in $12.38 billion, it saw a slight dip of 0.9% compared to last year. On the other hand, sports betting has emerged as a major growth driver. Gross Gaming Revenue (GGR) from sports betting surged by 42.4%, totaling $3.24 billion. Meanwhile, iGaming also performed strongly, with a 30.3% increase in GGR, reaching $2.08 billion.
Growth Despite Challenges
Although six states, including New Mexico, Florida, and Nevada, saw declines in gaming revenue, the overall performance remained robust. Notably, 29 out of 35 commercial gaming jurisdictions recorded growth, with the District of Columbia seeing an extraordinary 426.7% increase.
David Forman, Vice President of Research at AGA, commented, “Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth.” He added that new brick-and-mortar casinos have also contributed to traditional gaming’s stability. “More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states,” Forman emphasized.
This growth underscores the expanding role of digital platforms in the industry, with online gaming becoming an increasingly critical revenue stream.
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