Fourth Year of Unprecedented Growth
The American commercial gaming industry reached new heights in 2024, with total revenue hitting a record-breaking $72.4 billion—a 7.5% increase compared to the previous year. This marks the fourth consecutive year of year-on-year growth, a testament to the industry’s resilience and the increasing consumer appetite for digital wagering and mobile betting platforms.
According to the latest “State of the States” and “Gaming CEO Outlook” reports from the American Gaming Association (AGA), the expansion of iGaming and mobile sports betting continues to fuel the sector’s upward trajectory.
State-Level Expansion and Milestones
Out of the 38 U.S. jurisdictions with operational commercial gaming markets, 28 set new annual revenue records in 2024. Notably, North Carolina and Vermont made their debut in the commercial gaming space with the successful launch of mobile sports betting platforms, contributing fresh momentum to the national growth trend.
As gaming spreads across the country, the total tax revenue generated for state and local governments reached an impressive $15.91 billion—funds that support infrastructure, education, and community services.
Industry Sentiment Mixed in Early 2025
Despite the headline growth, the AGA’s Gaming Conditions Index (GCI) signaled a slowdown in industry economic activity in Q1 2025, reflecting broader macroeconomic pressures and a more measured pace of growth. While this indicates a period of recalibration, it hasn’t dulled industry enthusiasm.
For the first time since Q3 2023, gaming equipment manufacturers expressed renewed confidence, citing an uptick in unit sales and plans for capital investment. This is seen as a potential sign of a forthcoming rebound in infrastructure and technology development.
Leadership Outlook and Market Confidence
Casino executives surveyed in the AGA’s CEO Outlook conveyed cautious optimism. Nearly 50% expect revenue growth to accelerate over the next six to twelve months, with many indicating plans to ramp up capital expenditures and innovation efforts.
Meanwhile, casino hotels have reported a steady increase in demand for group events and conferences. Event-related RFPs (requests for proposals) have not only returned to pre-pandemic levels but inched ahead by 0.3%, underscoring a sustained recovery in hospitality and tourism associated with integrated casino resorts.
Sports Betting Boom Continues
The momentum in sports wagering remains strong. In March 2025 alone, Americans placed $3.1 billion in bets during March Madness, representing a 13.8% rise from the previous year, despite no new states legalizing sports betting since March 2024. The growth highlights increasing engagement in existing markets and the strength of digital betting platforms.
As the industry continues to evolve, these figures suggest that commercial gaming is not only here to stay but poised for further innovation and expansion in the years ahead.
