AGA reports 7% growth in gaming industry revenue through October
The organization said it hopes revenue this year will surpass the previous record.
Key Points
- Revenue is up as of October
- The previous record in 2023 was $67bn in revenue
AGA President and CEO William Miller recently gave an update on industry progress throughout the year.
Gaming industry revenue has increased by 7% through October, Miller said.
He said in a statement, “While this growth has been driven primarily by the continued expansion of online gaming and sports betting, our traditional brick-and-mortar operations have shown strong resilience in the face of macroeconomic headwinds.
“As we approach year-end, the industry remains well on track to surpass last year’s record $67bn in annual commercial gaming revenue. We can point with pride to growth across every gaming vertical. This growth not only reflects increased consumer engagement, but also underscores the industry’s role as a significant driver of economic impact nationwide.
He went on to add that the market has reached new audiences throughout the year and said that he is encouraged by efforts to combat illegal offshore gambling.
He said in closing, “Our industry continues to demonstrate its strength, reaching new audiences and creating experiences that were hard to imagine just a few years ago.
“From the exciting and ongoing convergence of sports, gaming, and entertainment to our industry’s continued expansion into new markets – we’re redefining what it means to be in the gaming business today.”
The AGA recently projected that American adults will place $35bn in legal bets with sportsbooks during football season, more than any other year.
Estimates are based on previous research the AGA conducted during last year’s NFL season. American sports fans bet close to $26.7bn on football in 2023, according to data collected.
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