People appear to love the one-armed bandit, no matter what is happening with the economy.
The slot machine industry continues to show remarkable strength despite economic challenges, according to recent insights from Macquarie analyst Chad Beynon. The news comes on the heels of the announcement that the Big Beautiful Bill will increase the threshold for reporting slot machine winnings to the IRS.
Drawing on data from the influential Eilers-Fantini Q2 2025 survey, Beynon highlighted several key trends and their implications for both industry observers and those interested in the gaming sector.
Slot Machines Show Resilience During Economic Turmoil
Beynon’s analysis found that the slot industry remains robust even in challenging macroeconomic conditions.
The Eilers-Fantini survey, which is considered the most comprehensive quarterly assessment for tracking slot machine and gaming technology trends, covered 586,000 slot machines across North American casinos. The data indicate that slot machine play has stayed strong and steady, with consistent consumer engagement fueling demand.
Operators are continuing to invest in new game content and regularly refresh their gaming floors, behaviors that reinforce the health and resilience of the slot sector. Beynon noted that this resilience is a very positive sign for manufacturers and casino operators alike, suggesting stability and ongoing innovation within the industry.
Most Recent Slot Machine Revenue Figures
According to the American Gaming Association, through May 2025, commercial casino slot machine revenue in the United States reached $3.24 billion for the month of May alone, up 4.4% from the previous year.
For the first five months of 2025, total revenue from slot machines and table games combined was $21.06 billion, a 1.8% increase compared to the same period last year.
Notably, individual state markets continued to see strong contributions from expanded or recently opened casinos. For example, Illinois' slot revenue grew 22.7% year-over-year, Virginia's by 36.1%, and Nebraska's by 149.8%.
Tax revenue from slot machine play remains significant, supporting local and state government services.
State Spotlight: Pennsylvania
Researchers with the Pennsylvania Gaming Control Board say that retail slot machine revenue for June 2025 was nearly $200 million. This was a slight decrease (0.85%) from June 2024, showing the importance of monitoring monthly fluctuations alongside broader trends.
July also proved to be a strong month in the Keystone State.
Online ("iGaming") slot revenue (in Pennsylvania) saw substantial growth in the same period, reaching $162.2 million—a 35.9% year-over-year increase—suggesting that the digital segment is becoming an increasingly important contributor.
Insights From the Eilers-Fantini Q2 2025 Slot Survey
The Q2 2025 survey had wide participation from casino operators and tracked performance across the largest installed base of slot machines in the industry. Key takeaways from the survey include:
Continued operator investment in new slot content and technology, matching prior quarter levels. In fact, BetMGM just added Derek Jeter-themed slots to its lineup.
Strong player demand and consumer engagement, validating the industry’s resilience.
Recognition of top-performing games, such as Zitro’s "Legendary Sword – Avalon," which led emerging supplier rankings for North America.
This survey is considered the industry standard for understanding real-time slot market conditions and identifying top games and suppliers.
What This Means for the Industry
Analysts and operators view consistent slot machine revenue and robust demand as strong indicators that the sector is likely to remain resilient. The steady performance seen in the data suggests that both players and casino operators value keeping games and technology fresh, which bodes well for manufacturers and content creators moving forward.
So, even when the overall economy faces challenges, people keep playing slot machines.
Revenue is growing nationally and casinos continue to invest in new games. The latest survey data shows that the industry is holding strong, and slot machines remain a key driver for casino revenues, both in brick-and-mortar casinos and online.
You Can Also Play Slot Machines Online
In states where online casinos are legal, playing slot machines is a straightforward and convenient process. To begin, you need to create an account with one of the best online casinos operating in your state. Many sites offer bonus codes that will help get you started. Once your account is funded, you can start playing a wide range of slot machine games available in the casino's library.
Alternatively, if you are in a state where traditional online gambling is not permitted, you can opt to play at sweepstakes or social casinos.
These platforms allow you to play slot machines using virtual currencies like gold coins and sweepstakes coins.
While gold coins are typically used for entertainment purposes and do not hold real-world value, sweepstakes coins often give you a chance to win cash prizes, as they can be redeemed according to the site's specific rules and regulations. These platforms provide an enjoyable and legal way to experience the excitement of slot machines without the need for real money gambling.
The key is to remember that, regardless of the method you choose, always practice responsible gambling habits.
