The U.S. commercial gaming industry achieved record-breaking revenue in Q3 2024, reaching $17.71 billion. This marks the 15th straight quarter of year-over-year growth, reflecting strong momentum across various gaming sectors. Here’s an overview of the key highlights:
- Revenue growth continues strong momentum
Total commercial gaming revenue for the first nine months of 2024 stands at $53.24 billion, 8% higher than 2023. This growth positions the industry for a fourth consecutive record year in annual revenue. September 2024 marked the 43rd month of continuous year-over-year revenue growth in the sector. - Performance of gaming jurisdictions
Of the 35 commercial gaming jurisdictions operating last year, 29 saw year-over-year revenue increases in Q3 2024. This translated to an 8.9% rise in state and local gaming tax revenue, totaling $3.79 billion for the quarter. These contributions highlight the increasing economic importance of the commercial gaming industry at the state level. - Online gaming gains a larger share
Combined revenue from online sports betting and iGaming reached $5.14 billion, making up 29% of Q3 2024 revenue. This share represents significant growth compared to Q3 2023, driven by expanded markets and consumer adoption. iGaming alone generated $2.08 billion, up 30.3% year-over-year, signaling sustained expansion in the sector. - Legal sports betting hits new highs
Americans legally wagered $30.3 billion on sports in Q3 2024, generating $3.24 billion in revenue. This marks a 42.4% year-over-year increase, bolstered by new market launches in Kentucky, Maine, North Carolina, and Vermont. The growth reflects increased accessibility and demand in newly legalized states.