AGA: Gaming Industry Revenues Rise For 13th Straight Quarter
According to the latest American Gaming Association report, gaming revenue in Q1 2024 set a new quarterly record, the 13th straight month of industry growth.
“While gaming’s momentum remains strong, 2024 will be the new baseline for future growth after several years of sports betting legalization and post-pandemic consumer shifts,” said AGA President and CEO Bill Miller, in a statement. “Gaming’s continued growth relies on maintaining our commitment to innovation and responsibility.”
iGaming Up 26.1% Year-Over-Year
The AGA Commercial Gaming Revenue Tracker reported revenue of $17.67 billion for Q1 2024, and a record $14.67 billion in 2023 commercial industry tax contributions to state and local governments (a 9.7% increase from 2022).
“As gaming expands, more communities than ever are benefiting,” said Miller. “We are proud to create jobs across the country, provide world-class entertainment experiences that offer safe alternatives to the pervasive illegal gambling market, and generate tax revenue to support critical public projects.”
New York And Pennsylvania Set Revenue Records
Leading the charge in terms of Q1 increase was revenue from iGaming - $1.98 billion, a 26.1% year-over-year increase. Sports betting handle was $36.86 billion in Q1, another record, with revenue hitting $3.33 billion (22% year-over-year increase). Traditional bricks and mortar casino gaming generated $12.34 billion in Q1 revenue, a 0.3% year-over-year increase (severe January weather in some regional gaming markets was blamed for that).
Eleven state gaming markets set quarterly revenue records as well, led by New York ($1.25 billion) and Pennsylvania ($1.69 billion), two of the nation’s largest gaming markets.
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