3 min read
2024 US Gaming Industry Trends
The appetite for US gaming continues to drive revenue growth.
Key Takeaways
Gaming Stocks Like Caesars, MGM, and Penn Remain Attractive
![Line graph comparing stock valuations for Las Vegas Sands, Wynn Resorts, MGM Resorts, Caesars, PENN, DraftKings, and the median from January 2023 to June 2024.](/content/cs-images/v3/assets/blt9415ea4cc4157833/blt7cfe5331aabfeeb3/669fd9fb5c5264513526dd0a/Gaming_Coverage.png?format=webp&auto=webp&disable=upscale&width=null)
Striking individual company valuations persist across the gaming landscape.
The US Consumer’s Appetite for Wagering Is Buoying Gaming Sales
![Bar graph comparing commercial gaming year-over-year growth and real GDP year-over-year growth from Q4 2022 to Q1 2024.](/content/cs-images/v3/assets/blt9415ea4cc4157833/blta6cf861044d26069/669fd9fa962501e993b4fd1e/US_Industry_Commercial_Gaming_Sales_Growth.png?format=webp&auto=webp&disable=upscale&width=null)
US commercial gaming revenue growth has surpassed US GDP growth in each of the last six quarters.
Gaming Is Diversifying Beyond Las Vegas as Demand for Sports and IGaming Ramps Up
![Bar graph comparing percent of US gaming sales for Las Vegas, sports betting, and IGaming from Q4 2022 to Q1 2024.](/content/cs-images/v3/assets/blt9415ea4cc4157833/blt49c84330fcfe4b8a/669fd9fa7aaa22f2265fd62d/Sports_and_IGaming_Sales.png?format=webp&auto=webp&disable=upscale&width=null)
While Vegas’ sales share holds around 20% of the last six quarters, sports and IGaming are a growing portion of commercial gaming.
US Sports Betting Growth to be Boosted by Increased State Legalization
![Map of the US showing sports betting legalization with states in green as legalized, states in yellow as potential approval 2024-27, and states in red as unlikely approval.](/content/cs-images/v3/assets/blt9415ea4cc4157833/blt4974f8cb66d28582/669fe4af02bf27dd2c3b7f83/US_Sports_Betting_Legalization.png?format=webp&auto=webp&disable=upscale&width=null)
Morningstar researchers expect several more states to pass sports betting during the next few years.