American Gaming Association (AGA) unveils 2024 Commercial Gaming Revenue Tracker report today
Unleashing the 2024 Gambling Trends: Bricks vs. Clicks
The American Gaming Association dropped a bombshell today with their 2024 Commercial Gaming Revenue Tracker, revealing a record high of $71.92 billion shaken, rolled, and wagered across the nation.
During this morning's state-of-the-industry webinar, Bill Miller, AGA's President and CEO, spoke fondly of this milestone with David Forman, discussing 2025's priorities and last year's commercial gaming revenue figures. Accompanying them, Jason Giles (IGA) and Daron Dorsey (AGEM) provided insights into the latest happenings in tribal gaming and suppliers' insights, respectively.
So, what were the industry's major betting verticals up to in 2024? Turns out, they were setting records left, right, and center!
Slot machines totaled $36.06 billion (a humble 1.6% increase), while table game revenue slid 1.7% to $10.14 billion. Despite this dip, traditional casino slots and table games managed to earn a solid $49.78 billion, increasing 82 basis points compared to 2023.
Sports betting and iGaming were on a rollercoaster ride of growth, with sports betting seeing a 25.4% surge and reaching $13.71 billion, and iGaming expanding 28.7% year-over-year to $8.40 billion.
So who was the clear winner between in-person and online gaming in 2024? Well, brick-and-mortar gaming claimed $50.32 billion (or 70.0%), but online gaming didn't mess around, taking home a substantial $21.54 billion (30.0%).
Now, let's dive deeper into the battle of the segments. Sneaky slot machines and cunning table games have been the pillars of the industry, but online platforms chomped away at their share in 2024. Here's a look at how things shaped up:
Atlantic City: The tide ebbed and flowed for Atlantic City casinos, closing the year with a net revenue of $3.3 billion (a modest 0.5% decrease compared to 2023). Despite their reasonable revenue, a 9.2% decrease in gross operating profit was noticed, signaling increased expenses and declining consumer interest.
National Perspective: Don't blink too fast, as the story changes in an instant. In some regions, traditional table games and slots recorded a combined $3.89 billion in a single month, down 5.8% year-over-year. Slots dipped 4.3%, and table games plummeted a worrisome 13%.
On the other hand, online gaming, including sports betting and iGaming, enjoyed an unyielding support from players, with growth across the board. Though full-year national figures are still kept under lock and key for 2024, data gathered so far indicates a consistent pattern of growth. By early 2025, iGaming revenue was up an impressive 27.9% compared to the previous year.
While in-person gaming came up short, online segments powered ahead, backed by surging participation and expanding regulatory environments. With more consumers embracing digital platforms, the industry's transformation is inevitable. Let's keep an eye on how this rivalry unfolds!
[1] https://app.legislature.nv.gov/legislation/LawLibraryDocuments/20232025/Statutes/PN/PS_136_136A_136B.pdf[5] https://www.nj.gov/oog/phanswers/revenue/Gaming/atlantic-city/index.shtml
In-Person Gaming Has Record Year, Online Segment Claims Almost a Third of Growing Revenue Pie
Most of the primary verticals within the gaming industry set revenue records in 2024, including casino slots, sports betting and iGaming.
Slot machines generated $36.06 billion, up 1.6 percent, while table game revenue contracted by 1.7 percent year-over-year to $10.14 billion. Collectively, traditional casino slots and table games generated $49.78 billion in revenue, an increase of 82 basis points compared to 2023.
Sports betting continued to see significant growth, increasing 25.4 percent from 2023 and reaching $13.71 billion in revenue. iGaming also had another strong year, expanding 28.7 percent year-over-year to $8.40 billion.
In-person gaming remains the bedrock of the industry despite online gaming claiming an increased slice of the revenue pie in 2024. Commercial land-based gaming-encompassing casino slot machines, table games and retail sports betting-accounted for $50.32 billion, or 70.0 percent, of total revenue in 2024. Meanwhile, online gaming-comprising online sports betting and iGaming-generated $21.54 billion, 30.0 percent of total revenue.
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- The American Gaming Association forecasts a substantial revenue growth in the sports betting and iGaming segments, predicting a 25.4% surge for sports betting and a 28.7% expansion for iGaming by 2024.
- In the year 2024, the casino industry saw a significant shift towards online gaming, with online gaming revenue reaching $21.54 billion, accounting for 30.0% of the overall revenue.
- In the battle between in-person and online gaming, traditional casino slots and table games earned $50.32 billion (70.0%), but online gaming platforms took a substantial portion with $21.54 billion (30.0%).
- As the gaming industry continues to evolve, online segments are gaining traction and becoming a formidable competitor, driven by surging participation and expanding regulatory environments.
- By 2025, iGaming revenue is expected to increase significantly compared to the previous year, thanks to more consumers embracing digital platforms and regulatory support.
