AGA Commercial Gaming Revenue Tracker Shows Strong Industry Growth in Q2 2024

Article by : Milena Petrovska Aug 21, 2024

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The American Gaming Association (AGA) unveiled a press release on August 15 in which it revealed that the commercial gaming revenue in the country for Q2 2024 has reached $17.63 billion. According to AGA’s Gaming Revenue Tracker, this marks the 14th consecutive quarter in which there’s annual growth.

AGA is an association that supports policies that promote innovation and reinvestment in the gambling industry in the US. Its main goals are to drive industry growth, effective regulation, responsible gambling leadership and strengthen both the organizational and financial positioning.

Its Commercial Gaming Revenue Tracker provides detailed intel nationwide and state-by-state into the financial performance of the gambling industry. Monthly reports are based on the reports from the states, while quarterly reports provide a more detailed analysis that spans back three months.

iGaming Was Responsible for Almost 30% of the Total Revenue

Data from the Gaming Revenue Tracker shows that a total of 24 jurisdictions across the US recorded YoY growth in Q2. The nationwide revenue also led to $3.7 billion in tax revenue, which is a 4% YoY increase. The iGaming industry still managed to record major growth, although it was much lower than the YoY growth in Q1.

In the period between Q1 2023 and Q1 2024, iGaming had a 44% growth, whereas the year-over-year growth for Q2 was 32.5%. In total, iGaming was responsible for 28.6% of the total revenue nationwide ($5.04 billion).

Land-based casinos generated $12.49 billion in revenue nationwide, which is a 1.8% increase compared to the second quarter in 2023. Data shows that even though April was rather slow for them, brick-and-mortar casinos experienced a major rise in revenue in both May and June. In total, these establishments generated 71.4% of the total income in the quarter.

24 Out of the 33 Operational Jurisdictions Had an Increase in Revenue

Out of the 33 jurisdictions that had complete data, 24 have revenue increase compared to 2023. The biggest increases were recorded in Wyoming (26.8% YoY), the District of Columbia (178.7%), Maine (20.6%), Nebraska (35.7%), Tennessee (32.8%) and Virginia (34.5%).

On the flip side, Oklahoma recorded the biggest drop in revenue. Q2 in this state generated $36.1 million, which is an 8.2% decline compared to Q2 in 2023. The main reason for the drop in revenue was the closure of Will Rogers Downs in June.

Sports Betting Also Experienced Major Growth

Sports betting continues to be one of the biggest gambling trends in the US. In Q2 2024, Americans wagered a total of $31.75 billion. They managed to generate $3.16 billion in revenue, which is a 35.3% year-over-year increase. New market launches in Kentucky, North Carolina, Maine and Vermont were the main contributors to the numbers.

David Forman, AGA’s vice president of research, stated that sports betting and online gambling continue to “drive overall industry revenue growth” in Q2. He also added that traditional gambling facilities were able to generate that much revenue because of new openings in Nebraska, Virginia, and Illinois.