The U.S. gaming business continues seeing large progress. The American Gaming Affiliation (AGA) reported this week that the nation’s industrial gaming income reached $17.63 billion for the second quarter, the business’s 14th consecutive quarter of annual income progress and the highest-grossing second quarter efficiency on document.
The expansion of sports activities betting continues to be a serious driver for the business, however different gaming choices additionally contributed to the sturdy numbers. Nevertheless, the report was combined as considerations in regards to the financial system proceed to develop.
“Whereas sports activities betting and iGaming continued to drive total business income progress within the second quarter, new brick-and-mortar property openings in Illinois, Nebraska and Virginia additionally led to rising conventional industrial gaming income,” AGA Vice President of Analysis David Forman stated. “Throughout the nation, land-based gaming markets are seeing combined year-over-year comparisons resulting from slower client spending economy-wide, which can proceed to be an element by the rest of 2024.”
Inside The Numbers
Nationwide industrial gaming income offered $3.73 billion in state taxes. Each land-based (together with brick-and-mortar sportsbooks) and on-line gaming noticed annual progress for the quarter. Land-based properties noticed slight progress, whereas the tempo of on-line progress improved from the primary quarter of 2024.
Nevertheless, iGaming slowed considerably from almost 44 % in 2023 to 32.5% within the second quarter of 2024.
General, land-based gaming accounted for 71.4% of complete income with on-line gaming making up the remaining 28.6%. Listed here are some extra key findings from the report:
Conventional on line casino gaming generated quarterly income of $12.49 billion, up 1.8% 12 months over 12 months, with annual income positive factors in Could and June buoying a gradual starting to the quarter in April.
People wagered $31.75 billion on sports activities within the second quarter, producing $3.16 billion in quarterly income, up 35.3% from 2023. The expansion was bolstered by new market launches in Kentucky, Maine, North Carolina, and Vermont since final spring.
On-line gaming grossed $1.97 billion within the second quarter, a 25.2% improve from 2023 however a slight lower of 0.7% from the primary quarter for the second straight 12 months.
A Look At State Outcomes
The AGA’s Business Gaming Income Tracker offers state-by-state and cumulative perception into the industrial gaming business based mostly on state income stories. The report discovered 37 states and the District of Columbia featured operational industrial gaming markets, together with on line casino gaming, sports activities betting and iGaming.
Of the 33 industrial gaming jurisdictions with full knowledge out there by June and that had operations final 12 months, 24 elevated second-quarter income in comparison with 2023.
On the opposite facet of the coin, some states noticed income declines. Oklahoma (-8.2%) contracted essentially the most, pushed by the closure of storm-damaged Will Rogers Downs in June, in line with the AGA. Different markets with second quarter income declines had been sports activities betting-only New Hampshire (-5.3%), in addition to New Mexico (-4.6%), Mississippi (-2.3%), Massachusetts (-2.7%), Missouri (-1.9%), Rhode Island (-0.8%), Florida (-0.6%), and Iowa (-0.1%).
The report comes on the heels of document income within the tribal gaming sector in 2023 as nicely.
