AGA: Q1 2024 Was the Industry’s 13th Consecutive Quarter of Growth

The American Gaming Association has published its latest Commercial Gaming Revenue Tracker report, highlighting the performance of the US industry. The commercial gaming revenue in the US continued to gain traction, reaching a new quarterly record of $17.67 billion in Q1 2024. This period was notably the industry’s 13^th consecutive quarter of growth.

The AGA added that March, when gaming companies recorded total revenue of $6.09 billion, was the industry’s second-highest-grossing month ever.

In Q1, 11 US jurisdictions set new quarterly all-time highs, the AGA reported. These included Pennsylvania and New York, two of the largest commercial gaming markets in the US.

The AGA added that growth was recorded across both the digital and online sectors. Retail gaming was responsible for 70.7% of the total revenue. Online gaming’s share stood at 29.3, which was its highest share ever. The iGaming sector, for reference, grossed $1.98 billion, underpinned by the launch in Rhode Island.

Sports betting also experienced significant growth as Americans wagered a stellar $36.86 billion on sports in Q1. Sports betting, for reference, generated $3.33 billion in quarterly revenue, up 22% year-on-year. This figure was driven by the launch of betting in new markets, such as Kentucky, Maine, North Carolina and Vermont.

Bill Miller, AGA’s chief executive officer, said that 2024 will be “the new baseline for future growth.” He added that the industry’s development relies on innovation and responsibility.

AGA Publishes Its New State of the States Report

The AGA also released its State of the States report, which provides economic and regulatory analysis of the commercial gaming sector in 2023.

According to that report, gambling operators paid an unprecedented $14.67 billion in direct gaming tax revenue in 2023, up 9.7% year-on-year. This does not include the income, sales or other taxes, the AGA noted.

Miller explained that the industry’s expansion is benefitting more communities than ever.

We are proud to create jobs across the country, provide world-class entertainment experiences that offer safe alternatives to the pervasive illegal gambling market, and generate tax revenue to support critical public projects.

Bill Miller, CEO, AGA

Speaking of the AGA, the organization recently welcomed the PGA of America as Have A Game Plan partner.