YTD December 2025

Through calendar year 2025, total domestic gaming revenue increased by $7.1bn year-over-year, or 8.9%. We highlight the significant growth across the iGaming and sports betting segments and to a lesser extent, the growth in VGT distributed gaming and commercial casino segments. Despite the significant growth in iGaming and sports betting, the YoY commercial casino increase of $1.5bn represented 21.7% of the $7.1bn.

The overall domestic gaming market and its segments continue to generally trend up, though slightly over half of commercial casino markets experienced declines year-over-year in December 2025.

Commercial casino performance in December declined, with 22 of 40 markets coming in below their December 2024 revenue. The markets that experienced declines did so at an average of -4.3%, with the greatest declines being -24.3% in Delaware and -9.3% on the Las Vegas Strip. Excluding these performances, the other 20 declining markets did so at an average rate of -3.1% The 18 markets of the commercial segment that grew YoY in December did so at an average rate of 13.6%. Only 11 markets have declined YoY over the last three-month period, providing reason to believe the segment remains healthy despite this month’s performance.

31 of 34 sports betting markets grew YoY in December with total segment growth of over 93% YoY for the segment. All markets have performed better YoY after Rhode Island improved to 7% YoY growth thanks to a very strong December. This massive segment growth YoY in December is partly due to underperformances in December 2024 and is not related to any calendar drift.

Meanwhile, iGaming continues its segment wide growth unabated and VGT distributed gaming is growing modestly with a few weaker performances mixed in.