The Las Vegas Strip is still king in the U.S. gaming market, even as revenue slipped 4.4% last year. That’s the key takeaway from the American Gaming Association’s (AGA) latest Commercial Gaming Revenue Tracker. While the industry remains strong, the report highlights a shift—regional gaming hubs are seeing more action, and sports betting is raking in billions.
Mixed Results Across U.S. Casino Markets
The AGA report makes one thing clear: not all gaming markets are thriving. Among the top 20 casino markets in the country, only six saw revenue growth last year. More gamblers are choosing to stay local rather than travel to major casino hubs.
Even with its revenue decline, the Las Vegas Strip remains the top gaming market in the U.S. Nearby, however, downtown Las Vegas and Reno/Sparks saw revenue climb. Atlantic City, the nation’s second-largest gaming market, also took a hit with a 1.7% drop.
Some markets fared better. Chicago’s casino scene got a boost from new properties, keeping it the third-largest market. The Baltimore-Washington, D.C. region held onto fourth place. Detroit, which struggled with labor disputes in 2023, bounced back, recording its best revenue since 2019.
Top-Performing Casinos and Growing Markets
At the individual casino level, there were some notable winners.
- Resorts World New York City kept its title as the highest-grossing casino outside of Nevada.
- MGM National Harbor in Maryland and Encore Boston Harbor in Massachusetts rounded out the top three.
- Rivers Casino Portsmouth in Virginia became one of the highest-earning casinos in the country in just its second year of operation.
More broadly, 28 out of 36 commercial gaming jurisdictions set new revenue records, thanks to the combined strength of land-based gaming, sports betting, and online casinos.
Some states saw double-digit growth in traditional casino gaming, thanks to new openings. Nebraska led the way with a staggering 60.1% jump in revenue. Virginia followed at 32%, while Illinois saw an 11% boost.
Not every state had a good year. Several states that rely on sports betting saw revenue decline, including Montana (-16%), Ohio (-0.9%), and Mississippi (-2%). In total, eight states saw sports betting revenue fall in 2024.
Sports Betting Revenue Nears $14 Billion
If there’s one sector of the gaming industry that’s still in full-on growth mode, it’s sports betting. The numbers are eye-popping.
- Americans legally bet $147.91 billion on sports in 2024, up 23.6% from 2023.
- Nationwide sports betting revenue surged 25.4%, hitting $13.71 billion.
- A slightly higher hold percentage (9.3% vs. 9.1% in 2023) helped boost operator revenue.
New York remains the undisputed leader in the sports betting market, raking in $2.1 billion in revenue last year—a 23% increase. Illinois leapfrogged New Jersey to take the No. 2 spot, with a 21.1% jump to $1.2 billion.
Massachusetts made a big move, climbing to seventh place as sports betting revenue jumped 38.8% year-over-year. Meanwhile, Ohio—the fourth-largest sports betting market—was the only top-10 state to see a revenue decline, slipping 3.9%.
By the end of 2024, sports betting was legal in 38 states and Washington, D.C., with Missouri set to join soon. Texas, Mississippi, and Oklahoma could be next to legalize, setting the stage for even bigger numbers in the coming years.
What’s Next for the Gaming Industry?
The AGA’s report signals a shift in how Americans gamble. While Las Vegas remains the top destination, regional casinos are seeing more play. Sports betting, meanwhile, continues to grow at a breakneck pace.
With new markets opening and major states like Texas considering legalization, the gaming industry isn’t slowing down anytime soon. But the question remains: how long can this winning streak last?
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