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- Slot machines remained the dominant revenue engine for the U.S. casino industry in 2025, generating $91 billion nationwide—including $10.7 billion in Nevada alone—while just four major manufacturers (IGT, Aristocrat, Light and Wonder, and Konami) maintained an 82% grip on the domestic market.
- While executives expect the Nevada gaming equipment market to remain relatively flat in the near term outside of the highly anticipated Hard Rock Las Vegas development, suppliers are aggressively pivoting toward system upgrades, historical horse racing, and international expansion to maintain growth.
Slot machines remained the biggest revenue driver in Nevada and across the U.S. in 2025, and the industry’s largest manufacturers say demand should hold up even as the market waits for new projects such as Hard Rock Las Vegas.
That matters because four companies — IGT, Aristocrat Technologies, Light and Wonder, and Konami Gaming — control 82 percent of the domestic slot market, according to Eilers & Krejcik Gaming. Their outlook helps shape expectations for casino equipment demand, floor upgrades, and related gaming technology.
In Nevada alone, slots generated $10.7 billion in revenue in 2025, nearly 68 percent of the state’s $15.8 billion in total gaming revenue. Nationwide, slot machines produced $91 billion in 2025, or about half of the U.S. online casino industry’s reported $182 billion in revenue.
Nevada remains a core market for slot makers
Nevada casinos operated more than 126,000 slot games statewide in 2025, underscoring why manufacturers still view the state as a key showcase for products and systems.
IGT CEO Hector Fernandez said the company’s North American manufacturing operations are run out of Reno. “It’s really important to us to maintain that presence in the state,” Fernandez said.
Executives also pointed to business beyond brand-new casino construction. Fernandez said Nevada continues to offer demand for game and cabinet refreshes, premium products, systems modernization, financial technology, loyalty solutions, and player-experience connectivity.
Light and Wonder CEO Matt Wilson said the company remains focused on expanding across land-based gaming, iGaming, social casino, and charitable gaming. Aristocrat Gaming CEO Craig Toner said, “Our first priority is continuing to lead through innovation.”
Hard Rock Las Vegas stands out in a flatter equipment outlook
Konami Gaming President Tom Jingoli said Nevada’s outlook for gaming equipment suppliers is limited in the near term outside of one major project. “The Nevada market will likely remain flat for gaming equipment suppliers in the foreseeable future, outside the new Hard Rock Las Vegas,” Jingoli said.
Jingoli also said Konami is focused on popular games and specialty segments such as bingo and historical horse racing in regulated jurisdictions that do not allow traditional slots. He said the company’s casino management system has expanded by 20,000 in less than five years, with 90 percent of that growth coming from existing casinos switching to Konami.
Suppliers see growth in tech and international markets
Even with economic and tariff uncertainty complicating planning, the executives said their product roadmaps and innovation plans have not changed.
Wilson said, “We’re certainly mindful of the broader economic environment and the impact that uncertainty can have on our customers.” But the broader revenue trend still points up. Eilers & Krejcik Gaming said slots accounted for 57 percent of nationwide gaming revenue in 2019 and projected slot revenue will rise to $104 billion in 2026.
Beyond North America, the executives identified the UAE as an emerging gaming destination. For now, though, Nevada remains central both as a revenue base and as a proving ground for new slot cabinets, systems upgrades, and premium products that could eventually spread to other markets.
Source: As reported by Howard Stutz.
