AGA: U.S. Experiences Record Setting Year of Gaming Revenue

• The American Gaming Association released its annual gaming report
• U.S. commercial gaming hit a new revenue high for the fourth year in a row
• Commercial gaming contributed nearly $16 billion in tax revenue to state governments in 2024

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Another year, another record setting span for U.S. commercial gaming.

The American Gaming Association (AGA) released its annual “State of the States” report, with its research noting the U.S. commercial gaming industry experienced a fourth consecutive year of record setting revenues.

Including tribal gaming’s performance in 2024, the U.S. gaming industry generated close to $115 billion in revenue for the year.

Billions in Tax Revenue for States

According to the AGA, U.S. commercial gaming revenue hit a new high for the fourth year in a row, generating more than $72.04 billion in revenue, an increase of 7.5% from the 2023 total of $67.01 billion.

If tribal gaming’s performance is included in the total, the U.S. generated close to $115 billion in gaming revenue for the year.

These gaming revenues led to $15.9 billion in tax revenues for states. Pennsylvania led the way in total tax revenues for the year, reporting $2.5 billion in taxes behind a strong iGaming market. New York’s gaming market generated $2.3 billion in tax revenues, the second most in the country. Nevada was the only other state to crack a billion in tax revenues, reporting $1.2 billion in 2024.

Additionally, 28 out of 38 states set new annual revenue records in 2024. North Carolina and Vermont also reported commercial gaming revenue for the first time after launching online sports betting.

“The unprecedented success of our industry comes as more Americans than ever before have access to, and allocate their entertainment budgets to, the legal, regulated gaming market. Last year, more than half of American adults participated in some form of gambling and 45% visited a casino property,” AGA President and CEO Bill Miller wrote in the report.

Sports Betting Revenues See 25% Increase

In 2024, total sports betting revenues across the U.S. totaled $13.78 billion, a 24.8% increase compared with the 2023 totals. Overall, 29 of the 35 states with commercial sports betting reported higher revenues in 2024 than in 2023. Only Mississippi, Montana, New Hampshire, Rhode Island, Ohio, and South Dakota did not surpass 2023 revenues.

New York online sports betting remained the gold standard, generating over $1 billion in tax revenues for 2024.

These totals do not include revenues earned by sportsbook with tribal casino partnerships or any revenue totals from online sports betting in Florida, which is controlled exclusively by the Seminole Tribe.

Online sports betting continues to drive the growth of the market. Online sports betting revenue increased by more than 27% in 2024, while retail sports betting revenues decreased by more than 23%, according to the report.

iGaming Continues to Boom

Despite only being legal in seven total states, the U.S. iGaming industry continued to grow in 2024. Revenue in the iGaming market reached $8.41 billion for the year, a 28.7% increase compared with the 2023 total.

This total included $26.3 million in revenue from Rhode Island, which launched iGaming in March 2024 and was the first new market to open since Connecticut launched its iGaming market in late 2021.

Pennsylvania remained the largest iGaming market in the country, ahead of Michigan and New Jersey. These three states alone combined for nearly $7.54 billion of the overall revenue total for the year.