iGaming Surge Propels U.S. Gaming to Record $6.73B in May 2025

May 2025 was a landmark month for the American gaming industry, with commercial gaming revenue climbing to $6.73 billion—an all-time high for May—according to the American Gaming Association (AGA). The figure reflects a 10.9% increase compared to the same month in 2024 and underscores the shifting dynamics within the sector as digital verticals outpace traditional formats.

Although slot machines and table games continue to underpin the industry, the strongest driver of recent growth lies in the online ecosystem. The rise of regulated iGaming and mobile sports betting has transformed the gaming landscape, signaling a long-term structural shift in how and where Americans gamble.

Traditional casino gaming remains a core pillar of the industry, generating $4.45 billion in May. Slot machines alone accounted for $3.24 billion—up 4.4% year-over-year—while table games contributed $894 million, an increase of 3.3%. Combined with retail sports betting, total land-based gaming revenue rose 4.8% to $4.53 billion.

Retail sports betting saw a particularly sharp gain, more than doubling with a 101.8% increase compared to May 2024. These land-based numbers confirm that while digital platforms are growing rapidly, brick-and-mortar casinos continue to offer a compelling experience for players.

However, not all states saw upward trends. Nevada, the symbolic heart of American gaming, reported a 3.4% drop in revenue. South Dakota and Delaware also posted declines of 2.7% and 1.0% respectively. The softness in Nevada highlights the growing competition from mobile and online channels, especially among younger players seeking more accessible, on-the-go options.

Online gaming channels experienced explosive growth. Combined iGaming and online sports betting revenue hit $2.19 billion in May, marking a 27.5% increase from the previous year. iGaming alone brought in $899.8 million—a 33% rise—while online sports betting revenue rose by 21.4%.

Each of the seven active iGaming states reported year-on-year gains. Notably, Delaware, Rhode Island, and West Virginia all more than doubled their iGaming revenue compared to May 2024. These figures illustrate a significant pivot toward digital-first experiences, as both users and operators gravitate to the convenience and scalability of online platforms.

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Sports betting generated $1.37 billion in revenue during the month—a 24.3% annual increase—with Americans wagering $12.10 billion. The national hold rate climbed to 11.3%, up from 10.5% a year earlier. Year-to-date, sportsbook revenue totaled $6.5 billion, representing a 13.1% rise over the same period in 2024.

States embracing integrated digital and land-based offerings saw the most notable gains. Nebraska led the surge with a staggering 149.8% growth, followed by Virginia at 36.1%, Illinois at 22.7%, West Virginia at 24.4%, and New Jersey at 10.9%. These markets are reaping the benefits of regulatory alignment and strategic modernization.

From January through May 2025, cumulative commercial gaming revenue reached $31.89 billion—a 7.1% increase over the same period in 2024. Traditional slots and table games contributed $21.06 billion, a modest 1.8% year-on-year rise, reinforcing the notion that while physical casinos remain foundational, future growth is increasingly digital.

As consumer preferences evolve and online offerings continue to mature, May’s numbers serve as a strong indicator that the U.S. gaming industry is not merely rebounding—it’s transforming. The momentum suggests that omnichannel strategies will define the sector’s next era, with operators who invest in digital innovation set to lead the charge.

Source: 

americangaming.org, 2025