AGA Report: Commercial Gaming Revenue Up 9.1% In 2025, Online Casino Up 27.6%

The American Gaming Association (AGA) released its annual “State of the States” report Tuesday morning, compiling state-by-state data to reveal revenue records set all across the country in 2025.

The major takeaways: Total U.S. commercial gaming revenue for 2025 came in at a record $78.62 billion, up 9.1% over the 2024 figure, and iGaming revenue grew about three times as fast, with a record $10.7 billion representing a 27.6% increase over the prior year.

Direct tax revenue from commercial gaming totaled $17.86 billion, up 12.3% year over year.

And of the 38 jurisdictions with some form of commercial gambling, 37 saw revenue rise compared to 2024 and 35 set new single-year revenue records.

Commercial gaming revenue has increased every year from 2015 to present with the exception of a significant dip in 2020, when the COVID-19 pandemic forced casino closures for two to three months in most states.

The only state in which revenue decreased in 2025 was Mississippi, and that was by less than one-tenth of a percentage point. The greatest percentage growth came in Nebraska (79.8%) and Washington, D.C. (75.9%). Nevada, unsurprisingly, led the way with nearly $15.8 billion in revenue, a 1.2% increase over the prior year.

“These results are especially meaningful given the economic uncertainty that characterized much of 2025,” AGA President Bill Miller wrote in his introductory message atop the report. “They reflect the enduring appeal of legal, regulated gaming as a form of entertainment and the strength of the American blueprint for gaming that we have built together over decades.”

Gargantuan gains in iGaming

Though there were only seven active regulated online casino states last year (with Maine set to become the eighth, possibly before the end of 2026), the $10.73 billion in iGaming revenue they generated was an increase of more than $2 billion over the previous year.

Smaller states Delaware, Rhode Island, and West Virginia reported the greatest percentage increases, but it was the triumvirate of larger iCasino states — New Jersey, Pennsylvania, and Michigan — that again put up the highest numbers, combining for nearly 90% of the national revenue total. Pennsylvania was the top market, rising nearly 28% year over year to produce $3.46 billion in revenue, or 32.2% of the nationwide total.

In both Pennsylvania and New Jersey, iGaming revenue exceeded land-based casino revenue for the year, a first in both states.

Land-based leaders

The Las Vegas Strip remains the largest commercial casino gaming market in the U.S., with nearly triple the total revenue of its nearest competitor, Atlantic City.

Nevada and Mississippi are the two states that don’t report property-by-property revenue figures, but across all other states, Resorts World New York City was the individual-property revenue leader in 2025 — and it’s certain to pad its lead in 2026, having just introduced table games in late April.

As a state, New York was the leader in sports betting revenue in 2025, generating more than $2.5 billion for operators. Nationwide, sports betting revenue reached $16.89 billion for the year, a 22.6% year-over-year increase.

The AGA’s State of the States report is developed in conjunction with VIXIO Regulatory Intelligence.

“Looking ahead to the remainder of 2026,” Miller wrote, “the AGA will continue to champion state and tribal authority over gaming regulation and fight to ensure a favorable policy environment so that legal gaming can continue to innovate and invest in the communities we serve.”