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Q1 2024 Commercial Gaming Sets, Yet Another, Record

There’s literally never been a better time for the US-facing gambling business than right now. In Q1 2024, American gaming operators pulled in an astonishing $17.67 billion in revenue. That marks the 13th consecutive quarter of growth for the business, according to recently released figures from the American Gaming Association (AGA).

Not only did the entire business see steady growth overall, it also saw record-breaking revenue for the month of March. Thanks to the incredible hype around the NCAA Men’s Division I Basketball Tournament (aka, March Madness), regulated gaming operators saw their second highest grossing month ever in March with $6.09 billion in revenue.

Though gains were released across the board, regulated sports betting was the clear winner for US-facing operators. Sports betting-crazed Americans dropped a whopping $36.86 billion on sports wagers, which resulted in $3.3 billion in revenue. That marks a 22 percent year-over-year leap from Q1 2023. That growth was also driven by new markets in Kentucky, Maine, North Carolina and Vermont that were not operational in 2023.

On the land-based side of the business, brick and mortar casinos saw just a 0.3 percent increase in their revenue from Q1 2023. Industry analysts point to a torrent of bad weather in January that impacted players’ ability to actually get to casinos in much of the country.

GA President and CEO Bill Miller was cautiously optimistic about the record-breaking run saying, “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. Gaming’s continued growth relies on maintaining our commitment to innovation and responsibility.”