The American Gaming Association (AGA) has released the "2025 U.S. State of the States and Gaming Industry CEO Outlook" report, showing that U.S. commercial gaming revenue is expected to grow by 7.5% year-over-year in 2024, reaching a record $72.04 billion.
This marks the fourth consecutive year of record growth for the industry, primarily driven by the continued expansion of iGaming and mobile sports betting.
In the 38 jurisdictions with operational commercial gaming markets, 28 reported new revenue records. North Carolina and Vermont entered the commercial gaming market for the first time following the launch of mobile sports betting.
Total tax contributions from commercial operators reached $15.91 billion, reflecting growth as national participation in regulated gambling increases.
However, despite the overall strong growth, the AGA's Gaming Condition Index (GCI) indicates that the industry's economic activity in the first quarter of 2025 has contracted compared to the same period last year.
Nevertheless, gaming equipment manufacturers have reported a positive outlook for the first time since the third quarter of 2023, citing increased unit sales and refreshed capital investment plans.
Casino executives surveyed for the "CEO Outlook" report expressed cautious optimism. Nearly half of the respondents expect revenue growth to accelerate in the next six to twelve months, with many planning to increase capital investments.
Additionally, casino hotels reported that the number of RFPs related to events is stable, exceeding pre-pandemic benchmarks, and showing a slight year-over-year increase (+0.3%).
The latest survey results from the American Gaming Association (AGA) align with its previous forecasts that betting amounts during the 2025 March Madness will reach $3.1 billion, a 13.8% increase from the previous year, highlighting the continued momentum of the U.S. sports betting industry, despite no new states legalizing sports betting since March 2024.
