US commercial gaming sector hits record revenue in November   

Jenny Ortiz February 5, 2025
US commercial gaming sector hits record revenue in November   

The US commercial gaming industry reached a record high in revenue in November, marking a 21.3 percent increase compared to the same month in 2023. According to the Commercial Gaming Revenue Tracker report of the American Gaming Association (AGA) released in January, this is the largest growth since January 2023.   

Total revenue for November stood at $6.65 billion, driven by gains across all gaming sectors. Year-to-date figures also reflected strong industry performance, with total commercial gaming revenue reaching $65.83 billion for the first 11 months of 2024, an 8.6 percent rise from the previous year.  

Substantial contributions to state gaming tax revenue  

The report also showed that state gaming tax contributions remained significant. The industry generated $1.43 billion in state gaming tax revenue in November alone, bringing the total for the year to $14.15 billion. Among the 35 commercial gaming jurisdictions that operated the previous year, only two reported higher revenue across casino games, sports betting, and iGaming.  

Land-based gaming remains strong  

Revenue from land-based gaming in the US, including casino slots, table games, and retail sports betting, climbed 4.7 percent year-over-year, totalling $4.24 billion in November. Traditional casino slot machines and table games accounted for $4.16 billion in revenue, reflecting a 3.9 percent increase from November 2023. Slot machine revenue rose 3.2 percent to $2.93 billion, while table game revenue declined by 2.1 percent to $891.7 million.  

The combined national total remained robust, excluding Louisiana and Michigan, due to different state reporting methods. Among the 27 states with traditional gaming, 22 reported higher revenue than the previous year. Year-to-date revenue from casino slot machines and table games reached $45.38 billion, slightly surpassing 2023 levels. Key markets such as Nebraska, Illinois, and Detroit significantly contributed to this growth.  

(Source: American Gaming Association)

Online gaming surges to new heights  

The report also showed that online gaming, including iGaming and online sports betting, saw rapid expansion, with November revenue rising by 63.0 percent year-over-year to $2.39 billion. This segment accounted for 35.9 percent of total commercial gaming revenue, up from 25.9 percent in November 2023.   

Land-based and online sports betting generated $1.67 billion across 33 jurisdictions (excluding Arizona), marking an 89.3 percent year-over-year increase. Even without new markets, sports betting revenue rose 26.8 percent for the first 11 months of 2024. Expanding sports betting in North Carolina and Vermont helped fuel this growth. The total sports betting handle for November reached $15.32 billion, up 5.9 percent from the prior year, with a higher hold percentage of 10.9 percent compared to 6.4 percent in November 2023. Year-to-date, commercial sports betting revenue totaled $12.78 billion through November, 32.1 percent ahead of the same period in 2023.  

The iGaming sector recorded a 38.5 percent year-over-year revenue increase, reaching $818.8 million across seven active states. Each of the six states where iGaming was available in November 2023 posted revenue gains. Key developments in the sector include Delaware’s 455.12 percent revenue surge due to a recent shift in its iGaming partnership and West Virginia’s 121.7 percent revenue growth. Michigan also achieved record-breaking revenue for the third consecutive month, benefiting from the licensing of Fanatics Casino. Year-to-date, iGaming revenue reached $7.61 billion, reflecting a 29.0 percent increase from the previous year.  

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