In fiscal year 2025, U.S. tribal casinos achieved a remarkable $46.2 billion in gross gaming revenue (GGR), marking a 5% increase compared to the previous year. This figure, detailed in the National Indian Gaming Commission's (NIGC) latest annual report released on Tuesday, sets a new record, adding to a trend of record-setting years since 2011, barring the pandemic impact of 2020.
NIGC Vice Chair Billy Kirkland emphasized the significance of Indian gaming in supporting tribal economies and enabling sovereign tribal governments to invest in community services. He stated, "Indian gaming is an important contributor to tribal economies that empowers sovereign tribal governments to invest in their communities and provide their citizens with essential services."
However, the NIGC faces challenges, particularly since it has lacked a confirmed chair or a complete three-commissioner team since February 2024, following the departure of longtime chairman Sequoyah Simermeyer. Commissioner Sharon Avery temporarily filled the role of acting chair before reverting to an associate position in January. Kirkland was later sworn in as vice chair after Jeannie Hovland's departure in April. Despite President Donald Trump’s election in January 2025, no nomination for a new chair has been made, leading to concerns about the commission's effectiveness, especially after the closure of seven regional offices last November.
Avery remarked on the GGR results, stating, "These GGR results reflect the continued commitment of tribal regulators and operators to responsible growth and community benefit."
Regionally, seven out of eight geographic zones reported year-over-year growth in FY25. The only decline was in the “Rapid City” region, encompassing parts of the Dakotas, which saw a slight decrease of less than 1% to $439.8 million. The “Sacramento” region, which includes California and northern Nevada, emerged as the top performer with an extraordinary GGR of $12.6 billion, a 4% increase compared to FY24. In comparison, the Las Vegas Strip recorded a GGR of $5.5 billion for the same time frame.
Following Sacramento, the “Washington, DC” region, covering most of the East Coast from Florida to North Carolina and New York, achieved a GGR of $11.2 billion, indicating a significant 10% year-over-year growth, the largest increase across all regions.
In Oklahoma, which the NIGC divides into two regions, the “Oklahoma City” area, tracking western Oklahoma and Texas, and the “Tulsa” region, covering eastern Oklahoma and Kansas, both saw GGR reach $3.7 billion, reflecting a 3% and 2.5% increase, respectively.
Other revenue figures include the “St Paul” region at $5.3 billion (+3%), the “Portland” region with $4.9 billion (+5%), and the “Phoenix” region at $4.2 billion (+5%).
Amid the growth reported for FY25, significant concerns are emerging regarding the rise of prediction markets. Several tribal gaming entities have united against these controversial platforms, with lawsuits filed in California, Wisconsin, and New Mexico, alleging violations of the Indian Gaming Regulatory Act and state gambling compacts. Initial estimates suggest that prediction markets have potentially drained around 5% of tribal gaming revenue since their rapid emergence in late 2024 during the presidential election cycle, with predictions of a loss escalating to 25% should these markets continue to expand.
James Siva, chairman of the California Nations Indian Gaming Association, cautioned, "If they are (allowed) to expand, we’re talking maybe we have a 25% gross gaming revenue loss within the next year. Put it in congressional numbers, that’s the equivalent of defunding the BIA, the (Bureau of Indian Education) and Indian Health Services. That’s how much revenue that we all use to improve the lives of our citizens that is potentially leaving Indian country."
During a House subcommittee hearing on prediction markets, Indian Gaming Association Chairman David Bean criticized the Commodity Futures Trading Commission for what he described as a "one-person agency" captured by private interests. He remarked, "Thanks to a one-person agency, every teenager can now lose their shirt without leaving their dorm room."
