The industrial gaming business noticed a brand new income file for the fourth consecutive yr in 2024, in response to knowledge from the American Gaming Affiliation (AGA). Whole income reached $71.92 billion, a 7.5% enhance from 2023.
With the inclusion of tribal gaming income, which will probably be reported by the Nationwide Indian Gaming Fee later this yr, complete U.S. gaming income is predicted to succeed in $115 billion.
“By all accounts, 2024 tells a constructive story about our business’s energy and momentum,” AGA President and CEO Invoice Miller mentioned within the group’s ‘State of the Trade’ webinar as a part of the discharge of the 2024 Business Gaming Income Tracker. “Business gaming continues to show unprecedented, continued success.”
Dwell Gaming Numbers Rise
The image wasn’t utterly rosy. December income was $6.16 billion, falling 2% in comparison with the identical month in 2023. This was the primary month-to-month drop in nearly 4 years, nonetheless, and the fourth quarter nonetheless set a file.
“The primary annual contraction in 46 months was pushed by considerably decrease sports activities betting income because of a low maintain charge,” the AGA famous.
In-person gaming had a file yr with slot machines, desk video games akin to blackjack, and retail sports activities betting accounting for $50.32 billion, or 70% of 2024 income. Slots generated $36.06 billion, up 1.6%, whereas desk sport income contracted by 1.7% to $10.14 billion. Retail sports activities betting continued to see important development, surging 25.4% to $13.71 billion.
The current Tremendous Bowl confirmed simply how massive Individuals urge for food for sports activities betting has grow to be.
On-line Gaming Continues Upward Pattern
Individuals proceed heading on-line to wager as iGaming had one other sturdy yr. On-line on line casino gaming and sports activities betting generated $21.54 billion, or 30% of complete income. On-line on line casino numbers grew 28.7% yr over yr to $8.4 billion.
Nationwide income development was pushed nearly solely by on-line betting in 2024. On-line gaming (sports activities and on line casino) now generates nearly all of industrial income in 13 states, together with greater markets like Michigan, New Jersey, and Pennsylvania.
Billions Despatched To State And Native Governments
State and native governments continued to profit from the business’s success in 2024. Business gaming operators paid an estimated $15.66 billion in gaming taxes, an 8.5% enhance from 2023. Within the fourth quarter, operators paid an estimated $4.01 billion in taxes, 8.4% increased than the identical interval in 2023.
“It’s essential to notice that these gaming tax figures embody state and native taxes straight linked to gaming income, that are reported on a month-to-month or quarterly foundation,” the AGA famous. “They don’t embody annual charges or sports activities betting excise tax funds to the federal authorities. Moreover, these figures don’t embody the billions extra paid by the business by way of earnings, gross sales, payroll, and varied company taxes.”
*Picture – Shutterstock
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