Pennsylvania registers a new high of $6.4 billion in gaming earnings during fiscal year 2024-25.
In the fiscal year 2024/25, online gambling is experiencing a significant surge in growth, with revenues starting to outpace those of retail casino gaming in key markets. This trend reflects a clear preference for digital formats over physical ones.
According to industry forecasts, US iGaming revenues are set to increase sharply, rising from $23.4 billion in 2024 to $26.8 billion in 2025. This surge is attributed to legal expansions, a mobile-first user experience, and major casino brands consolidating their online platforms.
Digital gaming, which includes iGaming and online sports betting, is a major growth driver. It is forecasted to see a 28% revenue increase in 2025, far outpacing the modest or plateauing revenues expected for retail casino gaming in established markets like Las Vegas. In fact, growth in Las Vegas slowed to 0.9% in 2025, following a plateau in 2024.
Pennsylvania serves as a prime example of this shift. In FY 2024-25, online casino gaming revenue ($2.48 billion) surpassed slot machine revenue ($2.44 billion) for the first time. Online casino revenue grew by 27% year-over-year, while other gaming revenues remained flat. This indicates a critical tipping point where online formats dominate.
Overall, commercial gaming revenue, which combines traditional casinos, sports betting, and iGaming, rose 7.1% year-over-year through May 2025. Land-based gaming grew more modestly at 4.8% during the same period.
In summary, the current trend in 2024/25 shows rapid revenue growth and increasing market share for online gambling compared to retail casino gaming. This trend is driven by expanding legalization, mobile engagement, and enhanced online offerings, while retail casino revenues grow more slowly or plateau in mature markets. This trend is especially pronounced in states with mature online gambling markets like Pennsylvania and New Jersey.
For more insights into the gambling industry, including legislative news, financial updates, and general trends, follow industry news expert Grant Mitchell. A veteran of the gambling industry, Grant Mitchell consistently holds himself to a high standard and has extensive experience in the world of casinos, sports betting, and iGaming. Besides his expertise, Grant Mitchell is also a former long-distance runner, demonstrating his commitment to perseverance.
- In the evolved gambling landscape of 2024/25, sports betting, particularly online, has gained traction as a significant contributor to the industry's growth.
- The rise of online casino platforms, offering games like roulette, slot machines, and others, is a major factor in the industry's financial surge in key markets.
- Rather than the traditional Las Vegas strip, the digital casinos of the internet are emerging as the hotbeds for growth and innovation in the gambling industry.
