US Commercial Gaming Revenue Continues to Rise Despite Mixed Market Performance
The American Gaming Association (AGA) has reported a 3.1% increase in US commercial gaming revenue for July compared to the same period last year. This marks the 41st consecutive month of annual growth for the industry, highlighting its sustained expansion over the past three years.
Record-Breaking Year-to-Date Revenue
As of July, total US commercial gaming revenue for 2024 has reached $41.23 billion, representing a 7.2% rise over the same period in 2023. The report also indicates that combined earnings from sports betting, iGaming, and traditional casino games hit a new monthly high of $5.71 billion in July, setting a record for the month.
In July, these markets generated $1.24 billion in state tax revenue, contributing to a total of $8.93 billion in gaming taxes for 2024 so far. This substantial figure underscores the growing fiscal importance of the gaming industry to state economies.
Online Gaming Thrives, Land-Based Revenue Declines
The AGA’s report also highlighted the ongoing growth of online platforms, with online sports betting and iGaming generating $1.48 billion in revenue for July—a notable 35.4% year-over-year increase. In contrast, land-based gaming saw a 4.8% decline compared to July 2023, bringing in $4.22 billion for the month.
This divergence in performance between online and land-based gaming highlights a shift in consumer preferences. While online gaming continues to thrive, traditional casinos are facing challenges, raising questions about how the industry will adapt to these changes moving forward.
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