As February 23, 2026, unfolds, the casino sector reflects on Nevada's landmark 2025 performance while grappling with softer early indicators and sustained digital expansion. Nevada achieved a historic gross gaming revenue (GGR) peak in 2025, but recent monthly data highlights challenges in tourism-heavy segments. Online platforms continue their upward trajectory, fueled by innovation and broader accessibility, as expansion discussions in states like Texas and Georgia remain incremental.
Nevada's Historic 2025 Close and Fiscal Strength
Nevada casinos posted a record $15.8 billion in gross gaming revenue for 2025, the fifth consecutive year of highs, with a 1.23% increase from 2024. The Las Vegas Strip contributed approximately $8.8 billion, essentially flat year-over-year despite broader tourism declines.
The latest detailed monthly figures from the Nevada Gaming Control Board cover December 2025, showing statewide gaming win at $1.439 billion (down 1.55% year-over-year), with the Strip at $827.7 million (down 6.07%). Declines were driven by factors like lower hold percentages in slots and baccarat, alongside softer visitation. Fiscal year-to-date (July-December 2025) growth stood at 2.02% statewide, with regional markets like Downtown Las Vegas, Laughlin, and Boulder Strip delivering gains.
Percentage fee collections in January 2026 (based on December taxable revenues) totaled $88.5 million, down 2.26% from the prior year, though fiscal year collections through January rose 3.78% to $601.8 million. No January 2026 gaming win data has been released yet, but operators and analysts anticipate stabilization or modest rebounds in early 2026, supported by convention pipelines, group business, and calendar effects. Locals markets are positioned to lead through reinvestments, while Strip properties monitor pricing sensitivity and international travel trends.
Land-Based Expansion: Slow Progress in Texas and Georgia
New market pursuits face persistent barriers. In Texas, advocacy from operators like Las Vegas Sands continues, with significant political investments in recent primaries to support casino and sports wagering legalization. However, as an off-year for the legislature, substantial movement is unlikely until 2027. Governor Abbott has expressed he is "not there yet" on broader expansions.
Georgia sees ongoing discussions, including study committees and carried-over bills exploring sports betting under lottery frameworks and potential casino elements. Constitutional hurdles and divided political support Slot dana limit near-term progress, though interest in regulated gaming persists as a revenue opportunity.
Online Gaming: Strong Projections and Tech-Driven Growth
Online casinos drive sector momentum, with global market estimates for 2026 ranging from around $101 billion to $143 billion, reflecting CAGRs of 10% or more in many forecasts toward 2030. Growth is propelled by mobile dominance, smartphone penetration, high-speed connectivity, and flexible payments including cryptocurrencies.
Key innovations include fun-first mobile designs, skill-based integrations, live dealer enhancements with AR/VR features, fast-paced crash games, and AI-powered personalization for game suggestions, rewards, and responsible gaming tools. In the U.S., regulated iGaming in states like New Jersey and Michigan expands steadily, alongside nationwide sweepstakes and social models.
Loyalty, Marketing, and Sector Outlook
Loyalty programs transition to AI-enhanced, gamified models emphasizing community, lifestyle perks, social interaction, and emotional engagement beyond basic points. Marketing adopts precision targeting and individualized strategies across digital and traditional channels.
In late February 2026, the industry capitalizes on 2025's record highs while addressing moderated land-based demand through digital acceleration and strategic pursuits. Economic factors, visitation patterns, and regulatory environments present challenges, but technological advancements, player-focused experiences, and emerging market potential sustain cautious optimism for continued evolution through the year.