YTD April 2026

For the first four months of calendar year 2026, total domestic gaming revenue increased by $1.8m year-over-year, or 6.5%. We highlight the significant growth across the iGaming segment (18.6%) a return to growth in the sports betting segment (9.1%), and to a lesser extent, the growth in the VGT distributed gaming (7.3%) and commercial casino (3.5%) segments.

All individual market segments trended up, with all iGaming markets and a majority of commercial casino and VGT distributed gaming markets increasing year to date through April.

Commercial casino performance through April grew by a modest 3.5%, with 34 of 40 markets coming in above their prior year period revenue. The six markets that experienced declines did so at an average rate of -6.9%, with the greatest declines being -2.6% in Oklahoma racinos and a decline of -2.1% in Rhode Island. Excluding these performances, the other four declining markets did so at an average rate of -2.1% The 34 markets of the commercial casino segment that grew YoY January through April did so at an average rate of 6.8%.

29 of 34 sports betting markets increased YoY January through April resulting in a total segment increase average of 12.3% YoY. The 5 markets experiencing declining revenue did so at an average rate of 20.7% with the largest decreases occurring in Arkansas (-54.2%) and Montana (-29.8%). We note that Arkansas is down due to the entry of two of the largest national sports betting operators (DraftKings and FanDuel) and each company’s subsequent related promotional activity. In future periods, we expect the Arkansas market to grow significantly above prior levels.

iGaming continued its segment-wide growth unabated with an average growth rate of 18.6% across its seven markets, and VGT distributed gaming also grew modestly year over year (7.3%) with only one market experiencing a decline for the first four months of 2026.