The year 2024 brought a sharp rise for the casino industry. In the United States, the commercial market closed the year with $72.04 billion in revenue and maintained growth this year, sustained by iGaming and sports betting.
For Americans, this means jobs, tax revenue, and more intense competition between destinations and digital products. Data consolidated by the American Gaming Association (AGA) also shows that 28 of 38 commercial jurisdictions broke annual records during the period, signaling broad expansion in the sector.
In the second quarter of 2025, the combination of iGaming and sports betting totaled $6.44 billion and already accounted for 33.2% of commercial revenue, the largest historical “online mix” in the series. There were 18 consecutive quarters of annual growth until June.
With such strong consumption, it is natural for the public to seek objective criteria to assess the security, licensing, and transparency of platforms. To compare methodologies and market standards. In addition to understanding KYC, reports, and performance metrics, you can read more and check out some of the key highlights in casinos, compiled by Djordje Todorovic.
While the real economy slowed down in some states, casino revenue remained steady in the second quarter of 2025 and reached $19.44 billion (+9.8% y/y), with $6.40 billion in June, in addition to a fiscal boost of $4.59 billion in state and local taxes in the quarter, according to the AGA.
The domestic picture begins in Florida, where tribal exclusivity for online sports betting via a compact with the Seminole Tribe has withstood the latest legal challenges. In June 2024, the U.S. Supreme Court declined to hear West Flagler v. Haaland, upholding the Seminole compact.
And in March of the same year, the Florida Supreme Court rejected the procedural route used by the plaintiffs, effectively consolidating tribal exclusivity. The regulatory movement continues in New York, where the dispute over up to three downstate licenses is moving forward under an official schedule.
The Gaming Facility Location Board has set milestones that include community voting (CACs) by September 30, 2025, board decisions by December 1, 2025, and issuance of licenses by the Commission by December 31, 2025. Each license has a fee of $500 million, in addition to a minimum investment of $500 million.
Outside the regulatory sphere, revenue dynamics show how digital verticals have gained traction. According to the AGA, iGaming grew 32.2% in the second quarter, totaling $2.60 billion in seven active states, and in New Jersey, online revenue has already surpassed retail revenue in part of 2025.
The expansion includes recent milestones such as Rhode Island, which became the 7th state with online casinos after launching in March 2024, under the supervision of the state lottery and with a legal basis from 2023.
In Nevada, the classic barometer of the industry, the summer showed resilience despite lower visitor numbers. In July 2025, the state recorded $1.36 billion in gaming wins (+3.99% y/y), with the Las Vegas Strip above $749 million and a strong contribution from baccarat.
Looking abroad, Macau reinforced its role as Las Vegas’ international counterpart in 2025. In August, the city achieved MOP 22.16 billion (≈ US $2.76 billion) in GGR, the best month since the pandemic and +12.2% y/y, bringing the January-August total to MOP 163.1 billion (+7.2%).
Performance has exceeded the monthly target implied in the local budget, which was forecast in June at MOP 228 billion for the year. This has helped recalibrate projections by banks and operators with listed exposure in the US.
In Europe, the UK has set a trend that reverberates in global product design. The stated goal of the government and regulator is to reduce harm without stifling innovation. For American groups, this opens up a continental-scale market, but with technological and governance requirements equivalent to those seen in the US and Europe.
The overall picture suggests a 2025 deadline for strategic decisions. In the US, the confirmation of milestones in New York, legal stabilization in Florida, and the expansion of iGaming set the tone for investment and competition.
Meanwhile, the AGA has already recorded 18 consecutive quarters of annual growth, with one-third of commercial revenue coming from online sources in the second quarter. Abroad, Macau is pushing Las Vegas to innovate and maintain an appropriate mix for an audience that is more sensitive to price and experience.