AGA: Gaming industry’s outlook is the ‘most positive’ its been in years
The AGA also stated that despite increasing concerns regarding regulatory and tax challenges, operators plan to continue reinvesting in capital spending to enhance gaming offerings.
The American Gaming Association (AGA) has released its latest Gaming Industry Outlook for operators and suppliers, having found improved key performance indicators such as revenues, balance sheets and consumer activity from results generated throughout Q1 2025.
According to the AGA, real economic activity – consisting of gaming revenue, employment, wages, executive sentiment and casino hotel event activity – increased 3.1% year-over-year for Q3 2025, representing the first quarterly expansion since late 2024.
Overall gaming executive sentiment increased to a net positive 7.1% throughout the third quarter of 2025, the highest figure recorded by the AGA in three years. Over a quarter of the respondents also expect stronger business conditions across the next 6-12 months, the “most optimistic view” shared with the Association since Q3 2022.
“Following a strong summer that underscored the resilience of gaming consumers and the entertainment value of gaming products, the industry’s outlook is the most positive in years,” AGA VP of Research David Forman said.
“While executives are increasingly concerned about regulatory and tax challenges, they plan to continue reinvesting in capital spending to provide players with compelling gaming options and amenities.”
The AGA stated overall economic uncertainty is still the primary factor limiting industry operations, but 50% of respondents now believe state regulatory concerns are a contributing factor to limited operations, the highest count since the measure was first tracked in early 2023.
Within the 50% share, 46% of respondents directly cited tax or regulatory policy changes as “pressure margins,” an increase from the 36% share recorded earlier in 2025. The near-term outlook for overall gaming sentiment was a net positive 11%, however, rising from the -18% sentiment recorded for Q1 2025.
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