The US commercial gaming industry reported record-breaking casino revenue of $783.6 billion in 2025, a 9.1% increase from 2024, according to the American Gaming Association’s (AGA) annual “State of the States.”
The annual report was released on Tuesday, and it also found that a total of 34 out of 38 commercial gaming states, including Washington, D.C., also saw all-time highs. That generated $17.86 billion in tax revenue, up 12.3% from 2024.
The gaming industry trade group reported that the new records were “driven by growth across the traditional land-based casino, sports betting, and internet gaming markets.”
Billions More Not In Report
The 2025 numbers paint a picture of a robust gaming industry that has produced revenue growth for five straight years, only seeing a decline during the COVID-19 year of 2020.
Overall, all but one of the 38 US jurisdictions with commercial casino or sports betting operations reported a revenue increase. Total revenue dropped only in Mississippi, falling just a fraction of a percent compared to 2024.
The $17.86 billion in tax revenue reflects only specific state and local taxes applied directly to gaming. The numbers doesn’t include billions more paid by the industry in income, sales, and other corporate taxes.
The tax total also doesn’t include payroll taxes paid by gaming operators and suppliers, or federal excise tax payments made by sports betting operations.
The new report doesn’t include tribal gaming operations in states like Wisconsin, California, Arizona, New Mexico, and others. The National Indian Gaming Commission typically releases those figures in June or July. Those numbers will greatly expand the entire revenue picture for the nation’s gaming industry.
Top Markets
When looking at individual markets, the Las Vegas Strip remains the largest commercial gaming market in the country, despite some casinos reporting near flat gaming revenue growth. The famed Las Vegas gaming center generated $8.64 billion in revenue and was off to a nice start with revenue numbers so far this year.
Atlantic City finished just behind the Strip with $2.9 billion. The opening of new casinos in Illinois boosted the Chicagoland market, which finished third with $2.38 billion. All these top markets saw growth, but a few other major regions saw a downturn, including Baltimore-Washington D.C., Philadelphia, Detroit, and Boston.
At the state level, Pennsylvania was the top market with $2.85 billion in revenue, up 12.6%, followed by New York with $2.59 billion, a 13.1% increase. Here’s a look at the top five states:
| State | 2024 | 2025 | Year over year change |
| Pennsylvania | $2.53 billion | $2.85 billion | 12.6% |
| New York | $2.29 billion | $2.59 billion | 13.1% |
| Nevada | $1.2 billion | $1.22 billion | 2% |
| Michigan | $962.9 million | $1.18 billion | 22.5% |
| Illinois | $730.5 million | $1.09 billion | 48.9%. |
As for individual casinos, Resorts World New York City remained the nation’s highest grossing commercial casino facility in 2025 (Nevada and Mississippi don’t report property-level numbers). The Queens casino had been limited to electronic gaming devices but added table games and a sportsbook in April as part of a broader redevelopment plan.
That property was followed by MGM National Harbor in Maryland, Borgata in Atlantic City, Encore Boston Harbor in Massachusetts, and Live! Casino Maryland near Baltimore.
