The US gaming industry recorded its highest-grossing Q2 revenue performance on record this year, according to the latest stats from the American Gaming Association.
Combined revenue from land-based casinos, sports betting and igaming in Q2 2024 reached US$17.63bn, up 8.9 per cent year-on-year.
But while there were rebounds for both land-based gaming and online gaming, the AGA said online gaming revenue is “clearly moderating” after recent growth surges.
Indeed, after revenue in the online segment grew 44 per cent from between Q2 2022 and Q2 2023, the rate of growth between the same period in 2023 and 2024 was 32.5 per cent.
Nevertheless, the 32.5 per cent revenue growth across Q2 year-on-year was higher than the 21.8 per cent growth from Q1 this year.
Total igaming revenue in the US for Q2 hit $1.97bn, up 25.2 per cent but fell by just short of one per cent from Q1, marking the second year in a row with “softening” igaming revenue between Q1 and Q2, the AGA noted.
Although, the six igaming states with 2023 comparisons – new entrant Rhode Island aside – grew year-on-year in Q2, with Rush Street Interactive’s recent akeover of operations in Delaware fuelling 264 per cent revenue growth there.
The other six pre-existing igaming mark posted annualised quarterly growth of between 20 per cent and 39 per cent.
Sports betting revenue hit a Q2 record $3.16bn, up 35.3 per cent. The AGA said new market launches in Kentucky, North Carolina and Vermont since Q2 last year inspired a “robust” commercial handle of $31.75bn, up 32.8 per cent year-on-year.
Land-based casino revenue in the US grew 1.8 per cent in Q2, with slot machines and table games generating $12.49bn in revenue.
“After a sluggish start to the quarter in April, brick and mortar revenue increased year-over-year in two of the three months in Q2, rising in May and June,” the AGA said.
Fifteen of 27 markets posted casino revenue declines compared to Q2 2023 by an average of 3.3 per cent while the other 12 – including Virginia, Nebraska and Illinois – all posted improved revenue by an average of 9.7 per cent.
The uplift was helped by new property openings, the AGA said.
