The casino and gaming industry in the United States has been a whirlwind of activity as it gears up for the International Casino Expo (ICE) 2024. This year brought triumphs and challenges, especially for tribal sovereignty, technological advancements, and record-breaking revenues.
For tribal nations, the struggle to maintain sovereignty continued amidst persistent attempts by state governments to assert more control over Indigenous lands, a realm where tribal casino and gaming operations thrive. In the face of legal threats, tribes have recently found some relief in court decisions affirming their autonomy—a vital win for the sector’s future.
Despite the undercurrent of tension with state politics, the National Indian Gaming Commission’s annual report for 2022 reflects a robust industry, with a staggering 4.9% increase in revenues, topping at $40 billion—the largest year-on-year gain ever documented. Yet, tribal leaders remain vigilant, knowing that their prosperous enterprises are eyed covetously by some political factions and commercial gaming interests seeking a slice of the success.
A spotlight shone on Florida this past year, where after an intricate legal tangle, the Seminole Tribe emerged victorious, obtaining statewide rights for mobile sports wagering and effectively charting the course for tribal gaming monopolies in the region. The US Supreme Court’s decision to reject West Flagler’s motion to stay in Florida cemented this significant triumph, one that took over two years to secure after court rulings initially halted the Seminole Tribe’s gaming compact for allegedly breaching the Indian Gaming Regulatory Act (IGRA).
It wasn’t just tribal gaming that saw a surge. The commercial gaming industry was abuzz with the American Gaming Association (AGA) announcing a record-breaking revenue of $16.17 billion during the third quarter of 2023. An 11th consecutive quarter of year-on-year growth, this figure marked the best third-quarter result in history, thanks in large part to the vibrant casino sector.
States like Nevada and New Jersey were at the forefront, with the former witnessing a 2.9% increase in land-based gaming revenue, and the latter celebrating gambling revenue surpassing $2.4 billion to date in October. The Vegas Strip, in particular, enjoyed a boom, with casinos generating an unprecedented $741.2 million during Q3, buoyed by the highest baccarat handle ever recorded in the state.
Such financial successes hint at a sustained positive trajectory for US casino and gaming as ICE 2024 approaches. This optimism is reinforced by tourist visits to famed destinations like Las Vegas. In July, the Las Vegas Convention and Visitors Authority estimated a remarkable 162% increase in international visitors in 2022 compared to the previous year—evidence of a robust recovery from the pandemic downturn.
Amidst this resurgence, technological progress has played a pivotal role. GR8 Tech celebrated a stellar year with the introduction of their GR8 Sportsbook, an iGaming innovation poised to redefine online betting. Its extensive sports, esports, and 24/7 fantasy sports repertoire cater to a diverse clientele, while the ability to manage upwards of 25,000 daily events with a dedicated in-house trading team speaks to a dynamic, customer-centric betting environment.
As the industry strides toward ICE 2024, these developments paint a picture of an industry at a crossroads—one steeped in tradition but boldly embracing innovation and facing its challenges with resilience. The past year’s milestones lay the foundation for what promises to be a transformative period for casino and gaming in the United States.
