US gaming records sixth straight year of growth: AGA
The U.S. commercial gaming sector delivered another record-breaking year in 2025, as leaders at the American Gaming Association (AGA) confirmed that every major vertical posted historic results.
“All industry verticals set records in 2025. And we saw strong success across commercial and tribal gaming,” Bill Miller, President and CEO of AGA, said during the association’s annual revenue briefing.
According to the AGA’s Commercial Gaming Revenue Tracker, commercial gross gaming revenue (GGR) reached $78.72 billion in 2025, a 9.2 percent year-on-year increase. Including tribal gaming, total legal U.S. gaming revenue likely reached $125 billion.
Miller described the performance as “especially remarkable given the economic uncertainty and the headwinds.” He said the results confirm the strength of America’s gaming model, robust regulations that protect consumers and give them confidence in the industry and a framework that gives room to innovate, expand offerings, and reach new customers.
Billions in taxes and millions of jobs
Beyond revenue, the industry’s fiscal contribution in the U.S. also reached new heights. Miller stated that gaming supported 1.8 million jobs and generated $53 billion in tax impact last year. “To put that in perspective, $53 billion exceeds the annual budgets of 34 individual states, including large states like Pennsylvania, New Jersey, and Illinois. That’s a massive impact in communities across the country,” he added.
Commercial operators alone paid $18.09 billion in gaming taxes in 2025, up 15.1 percent year-on-year.
“For another year, legal commercial gaming in the United States has delivered exceptional results for consumers, operators, and the communities we serve,” Miller said. “These record revenues and tax contributions demonstrate the broad appeal of regulated gaming markets and why strong state oversight remains essential as our industry evolves.”
He stressed that impact and reputation “translate into policy wins,” highlighting federal and state-level successes.
“At the federal level, the AGA helped achieve historic victories in the One Big Beautiful bill, raise the slot tax threshold to $2,000 and index it to inflation, preserve the low corporate tax rate and implement provisions to spur innovation and reinvestment,” he said.
Miller shared that the association also supported an unprecedented coalition of 50 State Attorneys General who urged the Department of Justice to ramp up their efforts to fight illicit gambling. “We continue shutting down illegal sweepstakes casinos nationwide, and we’re taking the same aggressive approach against sports event contracts offered by prediction markets,” he said.
Brick-and-mortar remains strong
While online gaming continues to expand, physical casinos retained their appeal in 2025.
David Forman, Vice President of Research at the AGA, said that commercial sports betting and iGaming revenue increased 23 and 28 percent respectively. And online gaming now makes up more than a third of the U.S. commercial gaming sector.
“While the online segment gets a lot of attention and is certainly growing, Americans continue to see the more than 1,000 brick-and-mortar casinos in communities across the country as compelling entertainment destinations,” he stressed.
Forman revealed that last year, 134 million American adults visited a casino, whether to “gamble, see a show, or have dinner with friends.” Revenue at brick-and-mortar commercial properties rose 2.3 percent, compared to less than 1 percent growth the previous year.
“That growth isn’t just good for the industry, it’s good for the states and communities that have welcomed us in,” Forman said, adding that licensed operators paid more than $18 billion in gaming taxes alone last year, supporting property tax relief, education systems, and other beneficiaries across the U.S.
Dr Carly Johnson, Director of Research at the AGA, reported that nearly two-thirds of states saw revenue growth in 2025, with slot machines generating over $37 billion, up 3 percent from last year, while table games generated just over $10 billion in 2025.
She shared that the Las Vegas Strip continues to be the largest gaming market in the country, more than three times the second-highest-grossing market, Atlantic City. She added that “Resorts World, New York City was the highest grossing commercial property outside of Nevada, Mississippi, and Colorado” and that Borgata “leapfrogged over Encore Boston Harbour to become the third highest grossing property in the country.”
Sports betting and iGaming surge
Sports betting and iGaming delivered the fastest growth in 2025. “Americans legally wagered more than 167 billion on sports in 2025, up 11 percent from the previous year,” Johnson said. “Sports betting generated $17 billion in revenue, benefiting from an increase in the 2024 hold rate to 10.2 percent in 2025.”
Among top-performing markets, “New York, Illinois, New Jersey, Ohio, and Pennsylvania remained in the top five for 2025,” she said, with most posting double-digit growth.
iGaming also broke new ground. Johnson revealed that “iGaming surpassed $1 billion in monthly revenue for the first time this past December as New Jersey, Pennsylvania and Michigan’s iGaming revenue outpaced commercial brick-and-mortar revenue for the year.”
“Maine will become the eighth state to offer full legal online betting, which is expected to launch in late 2026,” she noted.
The AGA also warned of revenue leakage to unregulated prediction markets. The association estimates that platforms offering sports event contracts have diverted more than $500 million in potential tax revenue.
“With 2025 marking another record year, the industry’s performance reinforces a clear principle,” Miller said. “Sports betting belongs under state and tribal regulation. That’s how consumers are protected and how communities share in the benefits.”
“Overall, 2025 was another strong year, but at the AGA, we never take gaming success for granted,” he concluded.
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