{"id":2501,"date":"2024-11-21T17:18:02","date_gmt":"2024-11-21T18:18:02","guid":{"rendered":"http:\/\/opiniao-publica24-7.com\/?p=2501"},"modified":"2024-11-27T15:30:55","modified_gmt":"2024-11-27T15:30:55","slug":"commercial-gaming-revenue-tops-17-7b-in-third-quarter-of-2024","status":"publish","type":"post","link":"http:\/\/opiniao-publica24-7.com\/index.php\/2024\/11\/21\/commercial-gaming-revenue-tops-17-7b-in-third-quarter-of-2024\/","title":{"rendered":"Commercial Gaming Revenue Tops $17.7B in Third Quarter of 2024"},"content":{"rendered":"

Commercial gaming revenue during the third quarter of the year reached $17.71 billion, as the sports betting and iGaming segments continue to expand.<\/span><\/p>\n

\"commercial
The US commercial gaming industry, led by Nevada and the Las Vegas strip (pictured), continues to increase overall revenue. The improvement in the third quarter was fueled by iGaming and sports betting. (Image: Getty)<\/figcaption><\/figure>\n

The American Gaming Association (AGA) reported Thursday that gamblers lost more money<\/a> than ever before during the July through September stretch. The $17.71 billion represented an 8.1% year-over-year increase. Q3 also marked the commercial gaming industry\u2019s 15th consecutive quarter of year-over-year growth<\/a>.<\/span><\/p>\n

That\u2019s the good. Now, the bad.<\/span><\/p>\n

\n

While total gaming revenue continued to swell, things weren\u2019t so great for legacy gaming interests or brick-and-mortar gaming. The AGA report revealed that casino revenue from in-person gamblers was down almost 1% to $12.38 billion.<\/span><\/p>\n<\/div>\n

\u201cTraditional brick-and-mortar casino gaming revenue contracted annually by less than 1% in the third quarter, with slot machines and table games generating $12.38 billion in revenue. Brick-and-mortar revenue decreased year over year in two of the three months in Q3, only rising in August,\u201d the AGA<\/a> summary read.<\/span><\/p>\n

Table games were responsible for the legacy decline, as slot win was up 1.3% to $9.1 billion. Table hold nationwide was just 20%, the fourth straight quarterly decline. Felt GGR dropped 8.3% during the quarter to $2.42 billion.<\/span><\/strong><\/p>\n

The remaining $860 million in legacy revenue came from retail sportsbooks, poker rooms, and other casino gaming like bingo.<\/span><\/p>\n

\"\"
(Image: American Gaming Association)<\/figcaption><\/figure>\n

iGaming, Online Sports Betting Growth<\/b><\/span><\/h2>\n

Retail casino losses at the tables were easily offset online, where internet casinos and mobile sportsbooks continued to see revenue blossom.<\/span><\/p>\n

\n

During the three months, regulated online casino gaming in Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia soared 30% to $2.08 billion. Sportsbook revenue totaled $3.24 billion, up 42% from Q3 last year.<\/span><\/p>\n<\/div>\n

Through three quarters, iGaming revenue in just seven states totaled more than $6 billion, up 27.2%. That\u2019s 16.2% of the $37.2 billion that physical casinos won in 27 commercial casino gaming states. Rhode Island<\/a> became the seventh iGaming state when its Bally\u2019s Casino online platform went live in March.<\/span><\/p>\n

\n

Each of the six iGaming states with 2023 comparisons grew year over year in the third quarter, led by 393% growth in Delaware powered by the Delaware Lottery\u2019s new iGaming partner Rush Street Interactive. Each of the other five pre-existing iGaming markets posted annualized quarterly growth of 25-68%,\u201d the AGA said.<\/span><\/p>\n<\/blockquote>\n

Sports bettors through nine months lost $9.96 billion, 33.6% more than they did at this point last year. The $9.96 billion marks a new sports betting revenue record for the third quarter, as the market begins to settle after no new states launched sports betting this year.<\/span><\/p>\n

Missouri is expected to become the 39th legal sports gambling state next year after state voters approved sports betting through a statewide ballot referendum during the November 5 election.<\/span><\/p>\n

Market Outlook<\/b><\/span><\/h2>\n

With nine months in the bag for 2024, all commercial gaming segments are positive, as traditional casino GGR remains up 0.4% despite a difficult third quarter. Though some Americans are pulling back their leisure spending as inflation has continued to keep the costs of everyday goods elevated, the gaming industry<\/a> continues to experience growth.<\/span><\/p>\n

\u201cThrough the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8.0 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year,\u201d the AGA concluded.<\/span><\/p>\n

The post Commercial Gaming Revenue Tops $17.7B in Third Quarter of 2024<\/a> appeared first on Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Commercial gaming revenue during the third quarter of the year reached $17.71 billion, as the sports betting and iGaming segments continue to expand. The US commercial gaming industry, led by Nevada and the Las Vegas…<\/p>\n

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