In fiscal year 2025, tribal casinos in the United States achieved a remarkable $46.2 billion in gross gaming revenue (GGR), marking a 5% increase over the previous year, as detailed in an annual report from the National Indian Gaming Commission (NIGC) released on Tuesday. This achievement not only sets a new record but also highlights a consistent trend; Indian gaming has established GGR records annually since 2011, with the notable exception of 2020, when the COVID-19 pandemic significantly impacted operations.
"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," stated NIGC Vice Chair Billy Kirkland. He added that the previous administration worked closely with tribal leaders to ensure these benefits persist for future generations.
While various federal agencies oversee Indian affairs, the NIGC remains the only body dedicated specifically to tribal gaming oversight. The commission has faced challenges recently, as it was left without a confirmed chair or a complete three-member roster since February 2024, following the departure of longtime chairman Sequoyah Simermeyer, who took a position at FanDuel. Commissioner Sharon Avery briefly served as acting chair but returned to her associate role in January 2025, with Kirkland stepping into the vice chair role after Jeannie Hovland's departure in April. Despite the ongoing operational questions and the closure of seven regional offices last November, the NIGC reported significant GGR growth, demonstrating the dedication of tribal regulators and operators to responsible development and community benefit, as noted by Avery.
Regionally, seven out of eight zones monitored by the NIGC experienced year-over-year growth. The only exception was the "Rapid City" region, composed of parts of the Dakotas, which saw a GGR decline of less than 1% to approximately $439.8 million.
As in previous years, the "Sacramento" region, which includes California and northern Nevada, led the way with a GGR of $12.6 billion—an increase of 4%. In comparison, the famed Las Vegas Strip recorded a GGR of $5.5 billion for the same period. The "Washington, DC" region, spanning from Florida to North Carolina and New York, followed closely with a GGR of $11.2 billion, representing a notable 10% year-over-year increase, the largest among all tracked regions.
The state of Oklahoma is divided into two NIGC regions: the "Oklahoma City" region, which includes western Oklahoma and parts of Texas, alongside the "Tulsa" region, tracking eastern Oklahoma and Kansas. Each reported a GGR of $3.7 billion, with increases of 3% for Oklahoma City and 2.5% for Tulsa.
Additional regional findings include:
– "St Paul" region (MN, WI, IA, NE, MI, IN): $5.3 billion, +3%
– "Portland" region (OR, WA, ID, AK): $4.9 billion, +5%
– "Phoenix" region (AZ, CO, NM, southern NV): $4.2 billion, +5%
Despite this growth, Indian Country is increasingly concerned about the emergence of prediction markets. Many gaming tribes across the U.S. have united against these platforms, with legal actions already launched in California, Wisconsin, and New Mexico. They allege violations of the Indian Gaming Regulatory Act and state gambling compacts. While prediction markets have not yet shown evident effects in revenue data, industry leaders highlight potential future impacts.
James Siva, chairman of the California Nations Indian Gaming Association, indicated that initial assessments suggest prediction markets have already undermined about 5% of tribal gaming revenue since they began to proliferate in late 2024 during the presidential election period. With FY25 concluding with record revenues, Siva cautioned that such losses could escalate significantly. "If they are (allowed) to expand, we’re talking maybe we have a 25% gross gaming revenue loss within the next year," he explained, stressing the severe implications for funding essential services for tribal citizens.
During a House subcommittee hearing addressing prediction markets, Indian Gaming Association Chairman David Bean criticized the Commodity Futures Trading Commission, characterizing it as a "one-person agency" that has succumbed to private interests. The hearing included testimony from a former CFTC general counsel. "Thanks to a one-person agency, every teenager can now lose their shirt without leaving their dorm room," Bean remarked, echoing concerns about the regulation of this burgeoning market.
