Published on: August 22, 2025, 08:17h.
Updated on: August 22, 2025, 08:18h.
- Commercial casino income hit $19.44 billion in Q2
- The April to June timeframe saw remarkable gaming revenue growth
- iGaming and sports betting show substantial GGR increases
Casino revenue in the U.S. is on a consistent rise, fueled by emerging verticals and additional states entering the dynamic market.
The American Gaming Association (AGA) has reported that players wagered $19.44 billion during the second quarter of 2025. This figure encompasses revenue from land-based casinos, riverboat casinos, racetracks, sports betting, and online gaming. However, it excludes revenue from tribal entities, lotteries, unregulated betting like skill games, offshore gaming sites, or sweepstakes.
This $19.44 billion in gross gaming revenue (GGR) for Q2 reflects a 9.8% increase year-over-year. The April to June period represents the eighth consecutive quarter of GGR growth, achieving the highest Q2 revenue on record for legalized commercial gambling in the U.S.
Growth Across All Verticals
According to the AGA, traditional in-person casino wins from slot machines, live dealer games, and electronic tables increased by 2.8% during Q2. The retail revenue totaled $12.82 billion, making up nearly two-thirds of the commercial gaming market.
Online and retail sportsbooks collectively earned $3.92 billion, representing a substantial 20.6% growth. This quarter was the best Q2 on record for sportsbooks.
Legal online casinos, available in just seven states, generated a GGR of $2.6 billion, marking a 32.3% increase from the previous year.
“U.S. commercial gaming revenue experienced accelerated growth in Q2, with all sectors reporting increases,” the AGA statement highlighted.
The data is sourced from state regulatory reports. Nearly every one of the 38 states with commercial gaming observed revenue growth in Q2, with North Carolina as the only exception, as it only permits commercial sports betting.
During this three-month period, five states reported commercial gaming revenue surpassing $1 billion. These five states all allow legal online sports betting, with Pennsylvania, New Jersey, and Michigan also permitting legal iGaming.
Top Q2 Commercial Gaming States (GGR/Year-Over-Year Growth)
- Nevada — $3.85 billion — 0.3%
- Pennsylvania — $1.91 billion — 16.1%
- New Jersey — $1.73 billion — 14.6%
- New York — $1.45 billion — 11.1%
- Michigan — $1.2 billion — 18.3%
Growth and Challenges in the Industry
2025 appears to be another landmark year for gaming. In 2024, commercial GGR reached a record $72 billion, marking the industry’s third consecutive year of setting new highs.
As of the first half of 2025, GGR has risen by 8% to $38.43 billion. Despite concerns surrounding Las Vegas, most other major casino and sports betting markets across the country are witnessing GGR growth.
In the January to June timeframe, traditional GGR increased by 2%, sports betting revenue grew by 16.5%, and iGaming surged by 29.7%.
A pressing concern for the industry is the rise of betting exchanges like Kalshi, Polymarket, and Robinhood, which aim to enter the sports betting sector by offering contracts on game outcomes and player performance metrics they promote as investment opportunities.
These derivative contracts are federally regulated, leading these platforms to believe they can legally offer sports contracts across the nation.