AGA Hails 14th Consecutive Quarter of Growth with Gaming Revenue Hitting $17.63B

In the quarterly update of its Commercial Gaming Revenue Tracker, the American Gaming Association (AGA) noted that the industry has continued to grow well into the second quarter of 2024, registering gains across all tracked performance markers, namely total gross gaming revenue, traditional casino gross gaming revenue, sports betting gross gaming revenue, and iGaming gross gaming revenue.

Gambling Industry in the US Continues to Drive Strong Quarterly Gains

Virtually, every sector of the industry has grown over the past three months, underpinned by robust trends within the respective verticals. Commercial and digital segments have contributed to shaping a more resilient industry that has been able to mark growth across all crucial areas.

Yet, traditional casino GGR grew to $12.49 billion in the quarter, up by 1.8%, compared to sports betting which went up by 35.3% and iGaming which added another 25.2% at $3.16 billion and $1.97 billion respectively for the two segments. Both of these segments also have exposure to online consumers, which has been a contributing factor to their growth.

Commenting on these results, AGA VP of Research David Forman has welcomed the numbers for both the land-based and the digital sectors. He specifically focused on the standout areas of growth and interesting trends registered in the quarter:

“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.”

Forman has however cautioned that the sector is indeed experiencing a somewhat of a slowdown when it comes to land-based gaming markets, with mixed year-over-year results as slower consumer spending has impacted bottom lines. Yet, most land-based operators remain fairly confident about the future, with multi-million projects, such as Caesars Virginia, still materializing.

Year-to-date results were also encouraging. The first half year saw a total of $35.48 billion or a 7.7% jump in gross gaming revenue. Traditional casinos added another $24.83 billion, or a 1.1% increase. Admittedly, the land-based sector has indeed been slowing down a notch, as explained by Forman.

Online Gambling Clearly Growing Fast But Behind Commercial Gaming Still

So far this year, iGaming and sports betting have been the biggest winners, driving $3.95 billion and $6.67 billion respectively – or 25.6% and 28.7% in terms of net growth year-over-year. These numbers are still a far cry from the traditional casino sector which outstrips both segments multiplefold, but it suggests that there is a sustained appetite for online gambling.

While sports betting is expected to hit maturity in the foreseeable future, more states are only now starting to consider online casinos – an arguably more popular venue for online gambling.

AGA has been a passionate advocate for the industry, tracking economic trends but similarly also looking to address some of its outstanding issues, such as illegal gambling that encroaches on the territory of the regulated market.

Yet, in the case of commercial gambling, the problem has been more uniquely focused to moribund spending by consumers fearing inflation.