Boosted by online gambling and expanded sports betting, the U.S. gaming industry grew for the fourth straight year in 2024, with $71.9 billion in revenue, a recent report from LVRJ noted. Additionally, the Las Vegas Strip remained the largest American gaming market, the American Gaming Association noted in a recent report from mid-February. However, in a 25-minute state-of-the-gaming-industry webinar, the AGA warned that the rate of growth is declining, and the Strip saw revenue drop 4.4 percent from 2023. Bill Miller, president and CEO of the trade group, repeated his call for rooting out illegal and unregulated operators $4.2 billion in gaming revenue and shorted state governments by $13.3 billion in lost tax revenue.
In this article, SBS will go over the latest gaming news coming from Sin City along with some additional thoughts and notes regarding Vegas gaming news and beyond.
Noted in the same report from the RJ, the presentation included a statistical analysis by David Forman, vice president of research for the AGA. “While certain regional markets saw revenue fall in 2024, outside of the Las Vegas Strip, the Nevada markets did quite well,” Forman said. “Downtown Las Vegas is now the 13th largest market in the country, up from 17. The Reno-Sparks area jumped two spots to become the 11th largest market in the country, and the Boulder Strip retained its spot as the 10th largest market.”
Noted above, Miller emphasized the need for the government to crack down on illegal gambling. “We recognized that legal gaming success makes us a target for illegal operators,” Miller said in the Richard Velotta article. “They try to profit off the reputation for the responsibility that we’ve worked so hard to build, exploit consumer confusion between legal and illegal operators, run through regulatory loopholes, and as a result, threaten to undermine public trust in gaming as a whole. And that’s why at the AGA we’re engaging in a constant battle against illegal gambling. We work to ensure policymakers and regulators understand the vast differences in the way we operate, the economic contributions we make, and the communities we support.”
For the first time as well, the AGA also invited two other gaming leaders to participate in the webinar. Jason Giles, executive director of the Indian Gaming Association, and Daron Dorsey, president and CEO of the Association of Gaming Equipment, offered perspectives on their respective specialties.
“In 2024, Indian Gaming generated over $42 billion in gross gaming revenues,” Giles said. “As mandated by the Indian Gaming Regulatory Act, these revenues are directly returned to our tribal communities and tribal citizens, not investors or shareholders.”
Dorsey also said AGEM is in the process of learning how Donald Trump’s trade and tariff proposals will affect gaming equipment manufacturers. “Just like other industries, our gaming supplier sector is working to understand and manage how trade policies and tariffs will affect us, both in the United States and abroad,” Dorsey said. “A unique aspect of our global gaming supplier sector community is that we deliver gaming products and solutions in all regulated markets around the world. So our products, whether in finished form or in component parts, will cross borders, and in many cases do so many times.”
In other Vegas gaming news, the top-level restructuring of a beleaguered megaresort on the Las Vegas Strip continues with the appointment of another high-ranking casino executive. Earlier this month, Resorts World Las Vegas announced it had appointed Carlos Castro as its new chief operating officer and chief financial officer. Noted in the report from the RJ, Castro’s gaming and hospitality resume includes leadership roles with Hilton Hotels Corp., Caesars Entertainment, and MGM Resorts International, including serving as senior vice president and CFO at Aria for more than five years, Resorts World said in a new release.
In his new role, Castro will “lead the resort’s financial strategy, operational execution, and long-term growth initiatives, ensuring continued success as a premier hospitality and entertainment destination on the Las Vegas Strip,” the release stated. His tenure at the property started earlier this month.
“Resorts World Las Vegas is an incredible property, and I am honored to take on this role,” Castro said in the press release. “I look forward to working with our team to drive financial excellence, enhance our guest experience, and support the continued success of this extraordinary property.”
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About the Author
As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football and basketball across the country. Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones. CURRENTLY Business Development and freelance sports writing RESIDES IN Reno, NV EDUCATION University of Nevada BS and MBA EXPERTISE -Sports writing proficiency in: NFL, NBA, UFC, boxing, golf, and some motor sports -Topical news -Promotional and marketing ideas/updates -Business development Summary Chris Boline serves in a business development sales capacity as his day job. He has previously held sales/marketing positions with The Applied Companies (TAC), KTVN 2 News and the NBA G League’s Reno Bighorns, affiliate of the Sacramento Kings. He is a Reno native and is a member of various community boards including the Nevada Sagebrush Alumni Chapter, NCET and the College of Business Alumni Association (COBAA). Chris graduated from the University of Nevada in 2015 with a bachelors in management and economics and also earned his MBA from Nevada in 2023. More about Chris: Past president of the College of Business Alumni Association (COBAA) 2022-23 Two-time honoree for University of Nevada Alumni Chapter of the Year (Nevada Sagebrush Alumni Chapter, 2017 & COBAA, 2021) 2021 NCET award for Professional Services Organization of the Year with TAC Northern Nevada Human Resources Association 2020 Best Places to Work-Northern Nevada, Second Place with TAC 2016-17 Reno Bighorns MVP from the Sacramento Kings The Nevada Sagebrush editor-in-chief 2013-15 Associated Collegiate Press 2015 Four-year Non-daily Newspaper Pacemaker honoree University of Nevada, Reno College of Business Dean's List honoree (5x) from 2011-2015 Nevada Press Association award for Best Sports Column – Community in 2015 Education
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