US Casino Q2 Revenue Reaches $19.44bn Amid Further Growth
In Q2, the U.S. posted its 18th consecutive quarter of gross gambling yield growth, with gains in virtually all reporting states and across all gambling verticals.
This comes despite news that Las Vegas has been struggling to attract visitors, while iGaming’s progress has seemingly stalled in many states.
Further gains can be expected as other states join the seven where online casinos are regulated, and if other states follow New York’s lead in granting further casino license applications.
Online Casinos Make Big Move
According to the most recent American Gaming Association report, the second quarter, from the beginning of April to the end of June, saw national Gross Gambling Revenue (GGR) top $19.44 billion. This represents a 9.8% annual increase.
The figure does not include tribal casinos, lotteries, or sweepstakes platforms. Sweepstakes casinos are finding it increasingly difficult to operate in many states, with states like New Jersey recently imposing bans. Other states look poised to follow their lead.
The figures include physical retail casinos and online, and incorporate sports betting revenue.
Retail revenue accounted for $12.82B of the total, which means it still holds a substantial market share, with almost two-thirds of all revenue generated. Retail revenue was up 2.8% for the quarter. Slot machines alone took $9.37B, up 3.6% from 2024.
Sportsbooks posted 20.6% gains and enjoyed their best second quarter ever.
However, online casinos saw the most significant increase. Revenue of $2.6B represents less than 15% of the market, but iGaming posted a 32.3% increase compared to a year earlier.
iGaming revenue is almost on par with brick-and-mortar casinos in Pennsylvania.
Online casinos generated more revenue in June than their physical counterparts in New Jersey.
Pennsylvania Revenue Continues To Grow
By state, North Carolina was the only one of 38 regulated states to report a downturn.
Nevada only reported marginal gains of 0.3%, but it remains the biggest gambling state by some margin. Its $3.85B is more than double that of the second-largest gambling state, Pennsylvania ($1.91B).
However, Pennsylvania saw growth of 16.1% in the quarter and has continued to show gains. New Jersey, the third-largest state by gambling revenue, also posted substantial growth, adding 14.6% to its figures to reach $1.73B.
Solid growth in Q2 is mirrored in year-to-date performance. During the first six months of the year, there was a total GGR of $38.43B—up 8% compared to 2024. Again, iGaming saw the highest gains, up 29.7% to $5.13B.
In the quarter, $4.59B in taxes were paid to state and local governments, 18.8% higher than 12 months earlier.
iGaming is legal in seven states: Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia.
Several states, notably including New York and Illinois, could be among the first states to regulate iGaming, causing further shifts in the gambling market.
Furthermore, New York is in the process of deciding whether to grant three new licenses to super casinos within its borders, indicating that increases are likely to continue in the coming quarters.
