Monetary Updates
In the world of gambling, the financial landscape is undergoing significant changes. A recent article published on February 20, 2025, by financial journalist Grant Mitchell, delves into the performance of various casino markets across the United States and the international scene.
In Macau, casinos have experienced a remarkable rebound from the COVID-19 downturn. The city's gambling revenue for 2024 is estimated to reach close to $30 billion USD, with expectations of further growth in 2025. Sands China continues to lead the market, accounting for about 26.6% of the revenue in 2023, followed by Galaxy and MGM [1][4]. The mid-2025 growth was driven partly by entertainment influences, with gambling revenue increasing by around 19% [2].
On the other hand, Atlantic City and the broader U.S. commercial gaming market have shown moderate growth in 2025. Commercial gaming revenue through May 2025 totaled $31.89 billion, a 7.1% increase year-over-year. While slot machines and table games showed steady growth, some established states like Nevada saw slight revenue declines, contrasted by the significant gains posted by newer or expanding markets such as Illinois, Virginia, and Nebraska [3].
The growth in U.S. casino markets is largely driven by states expanding commercial gaming or legalizing new forms of gaming. Virginia and Nebraska, in particular, have experienced rapid revenue increases due to their recent expansions. Additionally, sportsbook revenue grew substantially by 24.3% in May 2025, indicating the growing popularity of sports betting in new or regulated markets [3].
Elsewhere in the U.S., New Jersey's retail gaming regained the lead in December 2024, while Michigan posted a record year for gaming in January 2025. The acquisition of Bally's was finalized on February 7, 2025, with Hedge Fund Standard General securing a $4.6 billion deal [5].
However, Atlantic City casinos have been struggling financially, with less revenue compared to the previous year [6]. The casinos have yet to fully recover from their previous financial struggles. Pennsylvania's casino revenue has been affected by the success of the Eagles, leading to a slight decline in revenue [7].
The U.S. casino market is not only growing, but it is also diversifying. The growth is driven by states expanding commercial gaming or legalizing new forms of gaming, with Virginia, Illinois, and Nebraska contributing substantially to the revenue gains. Meanwhile, Macau continues to dominate the international casino scene, with a robust recovery post-COVID and a promising growth trajectory [1][2][4][3].
[1] Macau casinos' revenue rebounded strongly from the COVID-19 downturn, with 2024 estimated close to $30 billion USD and growth expected to exceed that in 2025. [2] Gambling revenue in Macau grew around 19% in mid-2025, driven partly by entertainment influences. [3] U.S. commercial gaming revenue rose 7.1% in early 2025, supported by strong growth in emerging markets and increased sportsbook betting. [4] Key upcoming and expanding U.S. casino markets include Virginia, Illinois, and Nebraska, contributing to overall market growth. [5] The acquisition of Bally's was finalized on February 7, 2025. [6] Atlantic City casinos made less money in the recent period compared to 2023. [7] Pennsylvania casinos' revenue has been affected by the success of the Eagles.
Online casinos, such as Sands China in Macau, have experienced a remarkable rebound in the finance sector, with gambling revenue estimated to reach almost $30 billion USD in 2024, showcasing a robust recovery from the COVID-19 downturn. The growth in the U.S. commercial gaming market is being driven by states expanding gambling opportunities or legalizing new forms, with Virginia, Illinois, and Nebraska, leading the way in contributing to revenue gains.
