Key Moments:
- Gaming industry real economic activity increased 3.1% year-over-year in Q3 2025
- Executive sentiment reached a net positive 7.1%, the highest in three years
- Half of respondents expressed heightened concerns over state regulatory issues
Renewed Optimism in Gaming Industry Performance
The American Gaming Association (AGA) has reported marked improvements across core indicators for the U.S. gaming industry, highlighting gains in revenue, employment, and consumer engagement as of Q1 2025. The association’s most recent Gaming Industry Outlook detailed a 3.1% year-over-year rise in real economic activity – encompassing gaming revenue, jobs, wages, and event performance – for the third quarter of 2025. This marks the first time quarterly growth has been recorded since the end of 2024.
Executive Outlook Hits Three-Year High
Overall sentiment among industry executives climbed to a net positive 7.1%, representing the most optimistic outlook in three years. Over 25% of those surveyed said they anticipate improved business conditions within the coming six to twelve months, reflecting the strongest confidence since the third quarter of 2022.
Industry Leaders Eye Investment Amid Challenges
“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,” said David Forman, AGA VP of Research.
Despite increasing worries, particularly over regulatory and taxation challenges, executives indicated plans to continue investing in capital expenditures that enhance the player experience and amenities.
Regulatory Pressure Grows, But Sentiment Remains Upbeat
The AGA noted that economic uncertainty continues to serve as the main obstacle for operational growth. However, 50% of respondents now identify state regulatory matters as a critical concern – the highest proportion since tracking of this metric began in early 2023. Within this group, 46% directly attributed pressures on profit margins to changes in tax or regulatory policies, a notable rise from the 36% level earlier in 2025. In spite of these headwinds, the industry remains upbeat; overall gaming sentiment improved to a net positive 11%, up from 18% in Q1 2025.
Survey Response Summary
| Metric | Current Value | Previous Value |
|---|---|---|
| Year-over-year real economic activity (Q3 2025) | +3.1% | – |
| Executive sentiment (Net positive) | 7.1% | – |
| Respondents citing regulatory concerns | 50% | – |
| Margin pressures due to tax/regulatory changes | 46% | 36% |
| Gaming sentiment (Net positive) | 11% | 18% (Q1 2025) |
- Author
Daniel Williams
