In May 2025, the American commercial gaming industry generated $6.73bn in total revenue, an increase of 10.9% year-on-year.
Taken from the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker, the figure includes revenue from traditional casino games, retail and online sports betting, and iGaming.
Year-to-date revenue through May reached $31.89bn, showing a 7.1% increase compared to the same period in 2024.
This steady growth underscores the resilience and expansion of both the land-based and online gaming sectors, despite regulatory fragmentation and competitive pressures across jurisdictions.
Of the 37 US commercial gaming markets that were active in May 2024 and reported complete data for May 2025, 35 posted year-on-year revenue gains.
Nevada and South Dakota were the only jurisdictions to see overall revenue declines, down 2.2% and 3.1%, respectively. Sports betting revenue for Arizona was not available at the time of reporting.
Land-based gaming, encompassing traditional casino activities and retail sports betting, posted combined May revenue of $4.53bn, up 4.8% year-over-year.
Retail sports betting revenue more than doubled with a 101.8% increase, while traditional casino games posted a modest 3.9% gain. Slot machine revenue rose 4.4% to $3.24bn, while table game revenue increased 3.3% to $894.1m.
These figures exclude Louisiana and Michigan, which report combined slot and table game revenue.
Online growth outpacing retail
Overall, online gaming channels demonstrated significantly faster growth than the land-based segment. Online gaming revenue reached $2.19bn in May, up 27.5% from May 2024.
iGaming accounted for $899.8m of that total, marking a 33% year-on-year increase.
Each of the seven active iGaming states reported annual growth, with Delaware, Rhode Island, and West Virginia more than doubling their iGaming revenue. Nationwide, online sports betting revenue rose by 21.4%.
State-level performance varied, but the overall trend leaned decisively upward. Of the 27 states with traditional casino slot machines or table games, only three saw May 2025 revenue declines versus the prior year.
Nevada experienced a 3.4% drop, South Dakota fell 2.7%, and Delaware declined 1%. Conversely, states with newly expanded markets fueled much of the national increase.
Nebraska posted a 149.8% gain, Virginia jumped 36.1%, and Illinois rose 22.7%.
West Virginia (+24.4%), New Jersey (+10.9%), and Maine (+10.4%) also contributed significantly to overall growth.
Cumulative slot and table game revenue for January through May 2025 reached $21.06bn, 1.8% higher than the same five-month period last year.
This moderate increase indicates that while land-based gaming remains a cornerstone of the industry, the strongest impetus for growth is now coming from digital segments.
Sports betting alone generated $1.37bn in commercial revenue in May, an increase of 24.3% year-over-year.
Total sports wagering handle for the month reached $12.10bn, with a national hold rate of 11.3%, up from 10.5% in May 2024.
Year-to-date commercial sportsbook revenue totaled $6.50bn through May, reflecting a 13.1% rise over the prior year.
