US commercial gaming continues to thrive, hitting another all-time high in 2024. According to the American Gaming Association (AGA), the industry pulled in $72 billion in revenue, signaling a 7.5% jump from the previous year.
Fourth Consecutive Year of Record Figures
This marks the fourth consecutive year of record-setting numbers, largely driven by the explosive growth of mobile sports betting and online casino gaming.
Out of 38 states with commercial gaming, 28 reported their best year ever. North Carolina and Vermont entered the scene for the first time, both launching mobile sports betting.
Combined, commercial gaming operations kicked back $15.9 billion in tax revenue to state and local governments, up 8.5% from 2023, according to the 2025 State of the States Report.
While the industry is breaking revenue records, the broader economic outlook is more complicated.
Renewed Optimism for Casino Executives
The AGA’s Gaming Conditions Index showed a slowdown in economic activity during the first quarter of 2025.
Still, equipment manufacturers and casino execs are showing signs of renewed optimism. Nearly half of casino executives expect revenue to grow in the next 6–12 months, and many are ready to boost capital investment, according to data from the AGA’s Gaming CEO Outlook.
Companies like Wynn Resorts, however, are holding off on major renovations until the impact of new tariffs becomes clearer.
The economic picture remains mixed. The Consumer Price Index is projected to rise to 3.6% in 2025, up from 3% last year, due to tariffs.
That, along with recent market downturns, has made American households a bit more cautious with their spending.
Still, there’s a silver lining: casino hotels are seeing strong demand for events and meetings, slightly above even pre-pandemic levels.
Heavy Lifting for Sports Betting & iGaming
Traditional casino games brought in $49.89 billion last year, up just 1%, but mobile sports betting and iGaming did the heavy lifting.
Sports betting revenue jumped nearly 25% to $13.78 billion, with Americans wagering a staggering $149.9 billion.
Online casino gaming surged 28.7% to $8.41 billion, with Rhode Island contributing $26.3 million after launching igaming in March.
States like Kentucky (+148%), Connecticut (+31.3%), Wyoming (+31.8%), Virginia (+27.1%), Arizona (+27%), Tennessee (+24.8%), Oregon (+24.5%), Michigan (+17.1%), Illinois (+15.8%), and Main (+14.9%) saw the biggest revenue boosts. On the flip side, Montana (-15.6%), New Mexico (-3.5%), and Missouri (-2.1%) saw declines.