Record Revenue—and More
Commercial gaming delivered another milestone year in 2025, generating $79 billion in total revenue, up more than 9 percent from last year. This marks 20 consecutive quarters of growth—a clear indicator that gaming’s position as a mainstream form of entertainment continues to strengthen.
What makes this performance notable is how it was achieved. With a few months of exceptions in various states, almost all of it was organic, from existing markets. That tells a straightforward story: consumer demand remains strong, underscoring the overall health of the gaming sector and the trust consumers place in the legal, regulated gaming market.
That growth didn’t happen overnight. In 2024, commercial gaming generated more than $72 billion in revenue and contributed nearly $16 billion in taxes to state and local governments. Sports betting alone saw approximately $150 billion in handle, producing nearly $14 billion in revenue. Those results—building on steady performance in prior years—laid a strong foundation for the gains realized in 2025 and well-positioned the industry for the year ahead.
Commercial Gaming’s Steady Drumbeat
Land-based casinos remain the backbone of the U.S. gaming industry. In 2025, land-based gaming revenue expanded by 2 percent year-over-year to $51 billion, with nearly every state’s brick-and-mortar sector posting growth. This steady expansion, and the fact that more than half of all American adults visited a casino last year, reinforces the enduring appeal of in-person gaming.
Slot machines continued to anchor casino floors, generating just over $37 billion in revenue, an increase of nearly 3 percent year-over-year. Table games added another $10 billion—down slightly from the previous year.
Together, these results underscore the continued strength of traditional gaming and its central role in the broader commercial gaming ecosystem—providing reliable revenue that supports jobs, reinvestment and tax contributions to state and local communities.
Demand for State- and Tribal-Regulated Sports Betting
Sports betting continued to mature in 2025, delivering nearly $17 billion in revenue, a 23 percent increase year-over-year. Importantly, this growth reflects deeper engagement in existing markets, signaling organic expansion driven by increased consumer engagement and higher margin products.
Sports betting revenue growth was driven by higher handle. Americans legally bet more than $166 billion on sports last year, up 11 percent from the previous year, reflecting growing demand during the most active stretch of the sports calendar.
This continued expansion in handle underscores Americans’ trust in—and preference for—legal, state-regulated sports betting. State-regulated sportsbooks generated $4 billion in taxes. At the same time, our analysis shows that if wagers placed on sports event contracts instead flowed through legal, licensed sportsbooks, states would have collected an additional $270 million in 2025.
That gap matters. Prediction markets offering sports bets continue to encroach on state and tribal authority while operating outside the state regulatory framework designed to protect consumers, ensure integrity and deliver public benefits.
iGaming
Revenue from iGaming reached $11 billion across the eight legal states, representing a 27.7 percent year-over-year increase without any new market launches.
Investing Back in Communities
The industry’s growth underscores the vital role gaming plays in supporting the communities where it operates. Commercial gaming generated more than $18 billion in critical tax revenue in 2025, funding education, infrastructure, public safety and other essential services across the country. Casino operators also invested billions in responsible gaming programs and related community initiatives.
Looking at 2026
Looking ahead, the commercial gaming industry is well positioned to continue this growth trajectory. The priority remains doing so responsibly—grounded in strong regulation, effective enforcement and ongoing collaboration with policymakers and regulators.
Commercial gaming’s story in 2025 is not simply about record results. It reflects an industry that has proven resilient and reliable, demonstrating that when gaming is legal, regulated and accountable, it delivers lasting value for consumers and the communities where it operates.
Dave Forman is vice president, research, for the American Gaming Association.
