US casino gaming continues to post strong results, and the latest industry tallies point to a market that is still growing while quietly becoming more digital at the edges. The biggest dollars still come from traditional casino floors, but a larger share of overall revenue has been coming from online sports betting and legal online casino play, where growth rates have consistently outpaced the slower, steadier bricks-and-mortar baseline.

Recent reporting from the American Gaming Association has framed 2024 as another record year for commercial gaming revenue, and subsequent 2025 tracker updates have continued to show year-over-year gains. Underneath the headline totals, the story has looked increasingly like a split screen: online revenue expanding through a limited but maturing state-by-state footprint, while sportsbook performance remains more volatile month to month, occasionally pulling the topline up or down even when other categories hold steady.

2024 ends with another record year

The AGA said U.S. commercial gaming revenue reached $71.92 billion in 2024, up 7.5% from 2023, extending a streak of annual records. The group’s Commercial Gaming Revenue Tracker also put the fourth quarter at $18.62 billion, an all-time quarterly high.

AGA President and CEO Bill Miller tied the outcome to breadth as much as volume, saying Americans embraced legal options “whether in casinos, at sportsbooks, or online.”

 2025 numbers keep moving higher

In a November 19, 2025, update, the AGA reported that combined revenue from land-based casinos, sports betting, and iGaming rose 7.2% year over year in the third quarter to $18.96 billion, the highest-grossing third quarter on record.

The tracker described the quarter as the industry’s 19th consecutive quarter of year-over-year growth, while noting that momentum was not uniform across the three months.

In September, total commercial gaming revenue was $6.12 billion, down 2.2% from the prior year, as sports betting revenue fell 21.2% and traditional casino revenue dipped 0.1%. iGaming continued to grow at a markedly faster pace.

Online share grows, and iGaming does the heavy lifting

Online gaming made up 30.0% of nationwide commercial gaming revenue in 2024, according to the AGA, generating $21.54 billion across online sports betting and iGaming.

In Q3 2025, online sports betting and iGaming combined for $6.00 billion, or 31.7% of commercial gaming revenue for the quarter, the AGA said. A weak September for online sports betting muted what had been a stronger summer performance.

Within that online slice, iGaming has been the most consistent growth driver. The AGA reported 2024 online casino revenue of $8.41 billion, a 28.7% increase across the seven states with full-scale legal iGaming. That climb is tracked closely by operators and analysts, and in the competitive market tracking that has sprung up around the segment, including platforms like BonusFinder.

The AGA put iGaming revenue at $2.69 billion in Q3 2025, up 29.6% from a year earlier, with all seven iGaming states showing growth. Year-to-date through September, national iGaming revenue stood at $7.82 billion, nearly 30% ahead of the same period in 2024.

Sports betting grows quickly, but volatility remains part of the model

Sports betting has been one of the fastest-growing categories, but it is also the most visibly volatile in monthly tracking. The AGA said nationwide sports betting revenue reached $13.71 billion in 2024, up 25.4% from 2023, and its State of the States 2025 report said Americans legally wagered $149.90 billion on sports during the year.

Hold rates, promotional intensity, and the timing of major events can swing sportsbook revenue in ways that look abrupt in month-by-month reports. The AGA’s 2025 tracker pointed to September’s sharp sports betting decline as the main drag on the quarter’s otherwise record total.

Land-based casinos remain the anchor

Most revenue still comes from in-person casino gaming. The AGA said brick-and-mortar casino slots and table games generated $49.78 billion in 2024, a record that underscores how central traditional floors remain.

In its 2024 summary, the AGA listed the Las Vegas Strip as the top commercial market by revenue, with New Jersey, Chicagoland, Baltimore, and Washington, D.C. also among the leading markets, while Queens/Yonkers moved into the top five.

Those rankings point to different drivers. Destination markets lean on travel and convention cycles, while regional properties can look more like local entertainment hubs built on repeat visitation.

The quarterly tracker shows how that steadiness can still bend with the month. In Q3 2025, table and slot games produced $12.80 billion, up 3.5% year over year, with growth in July and August followed by a slight contraction in September.

For operators, the task has been two-sided: keeping physical properties competitive while managing online acquisition costs in a crowded digital field. In the AGA data, the two are increasingly counted as parts of one commercial total rather than separate worlds.

Taxes, jobs, and regulation remain central to the debate

Gaming’s fiscal footprint has remained a central point in policy debates. The AGA estimated commercial gaming operators paid $15.66 billion in gaming taxes in 2024, and its State of the States 2025 report put direct gaming tax revenue at $15.91 billion, both of which were records.

In Q3 2025 alone, the AGA estimated $4.25 billion in gaming taxes paid, up 7.4% from a year earlier, while also noting that these counts cover only certain taxes directly linked to gaming revenue. Miller, in the AGA’s full-year 2024 release, said “every dollar of gaming revenue fuels jobs, investment, and economic growth.”

The figures describe an industry that has continued to expand as the legal market has broadened. Traditional casinos still drive most revenue, but the fastest growth has been online, particularly iGaming in the limited set of states where it is legal. The AGA’s 2024 record and 2025 quarterly tracking suggest a market that is larger, more mixed, and increasingly judged by how its online and retail pieces move together.