Record Revenue Growth in US Casinos: Top 10 States Revealed
In the third quarter of 2024, 14 out of 27 US states with commercial casinos reported revenue growth, according to a report by the American Gaming Association (AGA). Nebraska and Virginia emerged as key contributors to this growth, with significant year-over-year increases in retail casino revenue.
The AGA’s third-quarter analysis highlighted mixed results for the commercial gaming sector. Retail casino revenue experienced a slight decline of less than 1% overall. While slot machine revenue rose by 1.3%, generating $9.1 billion, table game revenue dropped by 8.3%, settling at $2.42 billion.
Out of the 27 states with commercial casinos, 13 saw a decline in revenue, whereas 14 reported an average increase of 8.5% compared to the previous year. The standout performers were Nebraska and Virginia.
Top Performers in Q3 2024:
Nebraska:
- Key Development:
The August opening of WarHorse Casino in Omaha, the largest city in Nebraska, significantly boosted the state’s gaming revenue. The casino offers 800 slot machines, 20 table games, a sportsbook, and over 110 simulcast screens. - Impressive Growth:
Nebraska’s revenue surged by 74.7% year-over-year, ranking second nationwide. With the expansion of gaming options at the WarHorse Casino in Lincoln, Q4 revenue is expected to maintain this upward trend. - National Ranking:
Only Oregon outpaced Nebraska with a 77.5% growth in the same period.
Virginia:
- Main Contributor:
Rivers Casino Portsmouth recorded a notable 23.7% increase in annual revenue in August, generating $26.65 million. This helped Virginia achieve a 9% year-over-year growth in Q3. - Future Prospects:
The casino landscape in Virginia is poised for further expansion, with the permanent Caesars Virginia set to open in December, alongside two additional casinos planned for Norfolk and Petersburg.
Nebraska and Virginia exemplify the positive momentum in the gaming industry, driven by new and expanding facilities. As these states continue to develop their casino offerings, further revenue growth appears likely in the coming quarters.
