In the third quarter of 2025, the US gaming industry displayed a notable resurgence in momentum, as highlighted by a 3.1% year-over-year increase in real economic activity. This growth marks the first quarterly expansion since late 2024, a significant reversal from the earlier contractions experienced in the year. The American Gaming Association’s (AGA) Gaming Industry Outlook survey, prepared by Oxford Economics, provides a comprehensive view of this positive trend, showcasing rising revenues, improved balance sheets, increased consumer participation, and reduced promotional spending as key indicators of the sector’s overall revitalization.
Conducted between August 26 and September 8, the AGA’s survey gathered insights from 28 senior executives representing a cross-section of the industry, including international and domestic gaming companies, tribal operators, equipment suppliers, and firms involved in iGaming and sports betting. The collective sentiment among these leaders has shifted to a net positive 7.1% in the third quarter, the most optimistic reading since the third quarter of 2022. This optimism is further strengthened by the near-term business outlook, which surged to an 11% net positive, a significant rebound from a previous low of -18% earlier in the year.
David Forman, AGA’s vice president of research, emphasized the industry’s bright outlook, stating that it is the most optimistic it has been in years. A strong summer season demonstrated the resilience of gaming consumers and the enduring appeal of gaming products. Even as executives express increasing concerns about regulatory and tax challenges, their commitment to reinvesting in capital projects remains steadfast. These investments aim to enhance gaming experiences and upgrade amenities, ensuring engaging offerings for players.
Steve Hill, CEO of the Las Vegas Convention and Visitors Authority, echoed these sentiments, noting that recent data points to a robust resurgence in several metrics, including tourist appeal and global visibility. He suggested that significant growth is on the horizon, further solidifying the positive outlook for the US gambling industry.
Despite the optimism, challenges persist. Half of the executives surveyed identified state regulatory issues as a primary limitation to potential growth. Nonetheless, industry leaders remain confident in the long-term strength of the US gaming sector. They anticipate that capital investment will remain steady over the next 12 months, driving growth and innovation.
The Gaming Conditions Index, a key component of the AGA report, tracks a variety of indicators such as gaming revenue, employment, wages, executive sentiment, and casino hotel event activity. The latest results signal renewed confidence across nearly all areas of the gaming industry, reflecting steady gains in revenue and consumer activity as the year draws to a close.
Looking ahead, about 26% of executives expect stronger business conditions over the next six to twelve months, signaling a rise in long-term optimism among industry giants. This renewed confidence is expected to drive further development and expansion, positioning the US gaming industry for continued success.
However, a counterpoint emerges from the regulatory landscape. As states grapple with the complexities of gaming regulation, executives voice concerns that inconsistent policies and taxation could impede growth. The balance between fostering innovation and ensuring responsible gaming practices remains a delicate one, requiring ongoing dialogue between industry stakeholders and regulatory bodies.
In conclusion, the US gaming industry’s renewed momentum is a testament to its resilience and adaptability. While challenges remain, the current wave of optimism and strategic investments is setting the stage for a promising future. As the industry navigates regulatory hurdles and capitalizes on growth opportunities, it stands poised to deliver enhanced gaming experiences and sustained economic contributions.
David Harrison stands tall in gambling journalism, marrying his firsthand casino experiences with a deep understanding of betting psychology. His articles transform complex gambling jargon into engaging tales of strategy and chance, making the world of betting accessible and enjoyable. David’s knack for narrative extends beyond print, making him a sought-after speaker on gambling trends and future bets. In the realm of gambling, David is both a scholar and a storyteller, captivating readers and listeners alike.
