U.S. Commercial Casino Revenue Hits $19.44 B in Q2 2025 as Digital Verticals Soar

Traditional land-based casino win rose by just 2.8 % to roughly $12.82 billion, while online sports betting surged 20.6 % to $3.92 billion and iGaming jumped 32.3 % to $2.6 billion. The trend underlines how digital verticals are increasingly the engine of growth even as physical casinos remain the core business.

Analysts caution, however, that despite the strong numbers, pressures are mounting. With visitation still down in many key markets (for example the Las Vegas Strip saw only marginal growth) and operating costs rising due to wage inflation and supply-chain pressures, the margin upside may be constrained.

Looking ahead, the continued expansion of legal online casino frameworks (currently only in seven states) plus broader sports betting legalisation could lift total market size significantly — but operators must balance heavy investment with disciplined cost management to sustain this momentum.