AGA reports 14th consecutive quarter of growth in US OSB and igaming
Quarterly US commercial gaming revenue rises to $17.63bn according to latest data from trade group as New York sits as the largest online sports betting state
The combined US gaming industry generated record GGR of $17.6bn in Q2 2024 according to new data from the American Gaming Association (AGA).
The AGA’s Commercial Gaming Revenue Tracker revealed that the Q2 figure represented an 8.9% year-on-year (YOY) increase, marking the 14th consecutive quarter of YOY growth overall as regulated sports betting and igaming continue to attract consumer dollars.
Online gaming — spanning both sports betting and icasino — was at the heart of the record results thanks to a 32.5% YOY surge, a significant increase from the 21.8% YOY growth achieved in Q1.
Overall, the combination of regulated online sports betting and igaming generated $5.04bn in quarterly revenue — or 28.6% of total commercial gaming revenue — with the launch of new sports betting markets in Kentucky, Maine, North Carolina, and Vermont since last spring contributing to the growth.
Revenue from igaming alone amounted to $1.98bn, an all-time high that was spurred in part by the March launch of legalized online casino in Rhode Island, the seventh US state to roll out igaming.
Online casino revenue shot up 25.2% YOY, with Delaware reporting a 264% spike against Q2 2023.
Sports betting revenue in Q2 totaled $3.2bn, a 35.3% YOY increase, and a new Q2 record for licensed operators in the US.
New York maintained its status as the most prominent sports betting state, accounting for $522m in revenue — or 16.5% of the market — followed by Illinois ($287m) and New Jersey ($245m).
Sports betting hold in the three months to June 30 rose from 9.77% to 9.96%
As a result of the Q2 gains, state and local governments received $3.7bn in tax payments from commercial gaming operators for the quarter, an increase of 4% YOY.
David Forman, AGA VP of research, said: “While sports betting and igaming continued to drive overall industry revenue growth in the second quarter, new brick-and-mortar property openings in Illinois, Nebraska, and Virginia also led to rising traditional commercial gaming revenue.
“Across the country, land-based gaming markets are seeing mixed year-over-year comparisons due to slower consumer spending economy-wide, which may continue to be a factor through the remainder of 2024.”