The American Gaming Affiliation (AGA) has reported a powerful milestone for the U.S. industrial gaming sector, with revenues hitting $17.71 billion within the third quarter of 2024. This achievement marks the highest-grossing third quarter ever recorded, persevering with a outstanding streak of 15 consecutive quarters of year-over-year development. Moreover, September 2024 celebrated the forty third consecutive month of elevated industrial gaming revenues in comparison with the earlier years.
Regular improve in annual gaming income:
Over the primary 9 months of 2024, the industrial gaming income throughout the nation reached an astounding $53.24 billion. This represents an 8.0 p.c improve from the identical interval in 2023, setting the trade on a transparent path to attaining its fourth consecutive record-breaking income 12 months. Among the many 35 jurisdictions with industrial gaming operations final 12 months, 29 reported larger revenues year-over-year, additional illustrating the sector’s sturdy development.
The surge in gaming income within the U.S. has considerably benefited state and native economies, with an 8.9 p.c improve in gaming-related taxes. Over the quarter, industrial gaming operators contributed a considerable $3.79 billion in taxes. This monetary enter helps numerous public companies and infrastructure initiatives, underlining the gaming trade’s position in financial growth.
Sector-Particular Efficiency Evaluation
By way of particular sectors throughout the trade, land-based gaming, which incorporates on line casino slots, desk video games, and retail sports activities betting, generated $12.56 billion in Q3 2024. This determine is barely down by 0.62 p.c from Q3 2023. Conversely, the mixed revenues from on-line sports activities betting and iGaming stood at $5.14 billion for the quarter, accounting for 29.0 p.c of the entire industrial gaming income—a notable improve from the earlier 12 months.
Key Sectors Driving Development:
Conventional Gaming: Brick-and-mortar on line casino gaming nonetheless varieties the spine of the trade, with $12.38 billion in income this quarter, regardless of a slight lower of 0.9 p.c from the earlier 12 months.
Authorized Sports activities Betting: This sector noticed a dramatic improve, with Individuals legally wagering $30.3 billion on sports activities and producing $3.24 billion in income, up 42.4 p.c year-over-year. New market entries in states like Kentucky, Maine, North Carolina, and Vermont have considerably contributed to this development.
iGaming: On-line gaming continues to broaden quickly, with income hitting $2.08 billion this quarter, marking a 30.3 p.c improve from final 12 months.
AGA Vice President of Analysis David Forman remarked on the sector’s efficiency, stating within the firm’s press launch, “Q3 2024 continued gaming’s momentum from the primary half of the 12 months, with on-line on line casino and sports activities betting driving sturdy development. On the identical time, new brick-and-mortar on line casino openings bolstered conventional gaming, which nonetheless accounts for the majority of trade income.” He added, “Greater than 1 / 4 of business income now often comes from on-line sources, elevating the significance of continued sustainable development with customers in these states.”
Because the trade evolves, it continues to play a pivotal position within the U.S. economic system, with 37 states and the District of Columbia that includes operational industrial gaming markets as of Q3 2024.
