Market data
US commercial gaming revenue hit $78.6 billion in 2025 — the numbers in context
The short answer
US commercial gaming revenue for calendar 2025 was $78.62 billion, up 9.1% year over year, according to the American Gaming Association's State of the States 2026 report — the industry association's revised figure after its February 2026 release put the year at $78.72 billion. iGaming was the fastest-growing segment at $10.7 billion (+27.6%), and 34 of 38 states plus DC set annual revenue records. The figure excludes tribal gaming, which reported separately at $46.2 billion for its fiscal year.
In this article
The American Gaming Association's February 26, 2026 release set commercial gaming's 2025 total at $78.72 billion — then the May 2026 State of the States report revised it to $78.62 billion, up 9.1% from 2024. Either way, it was the industry's fifth consecutive annual record. The number is an aggregation of state-reported commercial gaming revenue, and reading it correctly matters more than the headline.
Illustrative example
| Metric | Figure | Source |
|---|---|---|
| Commercial GGR, CY2025 (revised) | $78.62 billion, +9.1% YoY | AGA State of the States 2026 |
| Commercial GGR, CY2025 (initial release) | $78.72 billion, +9.2% YoY | AGA February 2026 release |
| Gaming tax revenue | $18.09 billion, +15.1% | AGA February 2026 release |
| iGaming segment | $10.7 billion, +27.6% | AGA State of the States 2026 |
| States at annual records | 34 of 38 states + DC | AGA State of the States 2026 |
| Total incl. tribal gaming | ≈$125 billion | AGA State of the States 2026 |
Where the growth came from
The composition is the story: traditional slot and table revenue grew modestly while iGaming — online casino play in the seven live states — jumped 27.6% to a $10.7 billion share. Sports betting continued to expand into newly launched states. That mix matters for how the total should be read: record GGR does not mean record casino-floor traffic; it means the digital segment is carrying more of the industry's growth every year.
What the number does not include
- Tribal gaming reports separately on a fiscal-year basis — NIGC's FY2025 figure was $46.2 billion — and is not inside the commercial total.
- The tracker covers legal, reported commercial gaming; unregulated and gray-market play is invisible to it by definition.
- It is gross gaming revenue — wagers minus payouts — not operator profit, and not comparable to 'market size' figures that measure consumer spend differently.
- The two AGA figures differ by $0.1 billion because states restate filings; year-end totals should always be cited with the release they came from.
For the methodology behind these figures, see how to read US gaming revenue reports, fiscal vs. calendar reporting periods and what to compare across commercial and tribal reporting.
