U.S. Commercial Gaming Reaches Record Revenue in 2024
In 2024, U.S. commercial gaming set a new revenue record for the fourth consecutive year, reaching $72 billion, a 7.5% increase compared to 2023. The growth was primarily fueled by iGaming and mobile sports betting, according to the American Gaming Association’s (AGA) report.
Impressive Growth Across U.S. States
A total of 28 out of 38 states achieved new annual records for gaming revenue. Notably, North Carolina and Vermont reported their first commercial gaming revenue following the launch of mobile sports betting. The surge in gaming revenue also contributed $15.9 billion in tax revenue to state and local governments, marking an 8.5% increase from 2023.
The “2025 State of the States Report” highlighted how iGaming and mobile sports betting played a pivotal role in this growth. The report comes amid a broader evaluation of the gaming industry, showcasing the rising influence of online gambling. The data also revealed that nearly half of casino executives foresee accelerated revenue growth in the next six to twelve months, with many planning to increase capital investments.
Gaming Conditions and Executive Sentiment
Despite a slight contraction in economic activity during the first quarter, gaming equipment manufacturers expressed renewed optimism. The Gaming Conditions Index (GCI) showed that unit sales and capital investment are expected to rise, marking the first positive outlook since Q3 2023.
Casino executives also reported a slight improvement in sentiment, although overall perceptions remained slightly negative. This was attributed to ongoing economic challenges, such as tariffs, uncertainty, and tighter financial market conditions. However, there is some hope that these issues will resolve in the near future.
Sports Betting and iGaming Fuel Revenue Boost
The rise of legal sports betting, especially in newly regulated markets like North Carolina and Vermont, drove a 24.8% increase in commercial sports betting revenue to $13.78 billion. Americans legally wagered $149.9 billion on sports throughout the year, showcasing the growing appeal of sports betting.
Meanwhile, iGaming continued its strong upward trajectory in 2024, with combined iGaming revenue from seven active states (excluding Nevada’s online poker-only market) reaching $8.41 billion, a 28.7% year-over-year increase. Rhode Island contributed $26.3 million to this total after launching iGaming in March 2024, the first new market to open since Connecticut in 2021.
Mixed Economic Forecast and Optimism for the Future
The economic outlook remains mixed, with some challenges ahead. Tariffs are expected to increase the Consumer Price Index to 3.6%, up from 3% last year, potentially dampening discretionary spending. However, casino hotels are seeing a slight year-over-year uptick in requests for proposals (RFPs) for meetings and events, exceeding pre-pandemic levels.
Executives’ longer-term outlook has improved, with 14% expecting business growth and 82% adopting a neutral view. More than 40% of executives anticipate increased capital investment, particularly in hotel and food and beverage facilities.
Despite the challenges, the general sentiment surrounding future revenue growth, capital investment, and customer activity has improved since the previous year. With 492 commercial casinos across the country, the U.S. gaming industry remains a major economic force, setting new revenue benchmarks and contributing significantly to state and local economies.
Source: “U.S. Commercial Gaming Reaches Record $72B in 2024”, May 14, 2025.