New York is no longer the primary focus of industry expectations. Instead, stakeholders’ attention has shifted to new investment avenues.
Casino Market has studied the US land-based gambling sector’s regulation and dynamics to identify the most promising states for further development in 2026. We provide detailed advice on launching licensed niche startups.
Country Regions with the Greatest Potential
The past year was challenging for the American industry due to a combination of macroeconomic and supervisory factors. Political instability added pressure, impacting investor sentiment toward new projects in the vertical.
The LVCVA research centre published a report on key tourism indicators. It revealed that visitor traffic to Las Vegas and related metrics declined throughout 2025, even during usual high-demand periods.
From a regulatory perspective, last year proved challenging as well. Authorities imposed significant fines on 4 gaming brands for non-compliance with AML rules. The operators were forced to pay a total of $32.3 million.
Against this backdrop, market attention is gradually shifting to other places in 2026:
- Texas. The region has long been on the radar of Las Vegas Sands and several other major corporations. The implementation of large-scale projects depends on how quickly clear regulations are established there. After that, construction will begin soon.
- Georgia. Investor interest has increased following a series of hearings in the House of Representatives on the potential market expansion. While it is difficult to draw firm conclusions based on the 2025 discussions, industry analysts are quite optimistic about the state’s potential.
- Indianapolis. Authorities have begun reviewing licence regulations and have conducted a study on relocating permits to more profitable areas. Spectrum Gaming, a consulting agency, identified potential development hubs and delivered calculations on approximate annual revenue for each.
Texas: Market Potential and Expectations
A major stakeholder that has long had its eye on this region is Las Vegas Sands (LVS). 2025 was marked by significant success for the company in Singapore and Macau. The operator ended the year as the world’s most valuable gambling enterprise, with a capitalisation of $44 billion.
At the same time, the corporation has 2 projects that have not worked out:
- a resort on New York’s Long Island, which the group has completely abandoned;
- a complex near Dallas, Texas, where casino plans have been shelved indefinitely.
In 2025, with Miriam Adelson’s active support, who is LVS’s controlling shareholder, the firm significantly increased its political spending. It aimed either to legalise the industry in the state or to secure the support of casino-favouring politicians. Neither goal has yet been realised.
Despite these cases, experts continue to consider Dallas-Fort Worth one of the most attractive areas for integrated resort development. According to Statista’s research, the metropolis, with a population of over 8 million, ranks 4th in the country, following New York, Los Angeles, and Chicago.
LVS aims to build a leisure complex as similar as possible to Marina Bay Sands, a prominent gem of the gambling business in Singapore. Andy Abboud, the company’s SVP, believes that Dallas is the only place on the planet that can match the Asian resort’s magnificence.
According to the representative, even Las Vegas does not have that level. He went further, saying that visitors need to rethink their experiences in popular American gambling halls and imagine a completely new standard of amusement and hospitality.
Georgia: Promising Offline Casino Leader
For many years, the local entertainment market remained virtually closed. Particularly severe restrictions applied to online slot and sports betting operators.
In 2025, the situation began to change: Georgia’s House Study Committee on Gaming was established. It was tasked with assessing the pros and cons of expanding various forms of gambling, including offline casinos. To date, the group has held 4 hearings, attended by 35 speakers. Among them was Josh Swissman, GMA Consulting’s Managing Director.
He claimed that the state meets all the criteria for a target market for the development of the real-money entertainment industry. The region has areas with significantly higher incomes, comparable to those in most neighbouring areas. These factors make Georgia attractive to operators and investors.
One of the local strengths is a population of 8.1 million, ranking 8th across the US, while the Atlanta metropolitan area is 6th (6.3 million). Geographically, the state is also a winner: it is surrounded by low-competition jurisdictions, including Alabama, Tennessee, and North and South Carolina.
The market can offer several types of licences, and the most promising candidates were already named:
- Boyd Gaming;
- Wynn Resorts;
- Bally’s Corporation;
- Gaming & Leisure Properties.
Indianapolis: Unexpected Gambling Hub Contender
Until recently, this place attracted little investor attention. That changed in 2025 with the passage of SEA 43. It required local regulators to conduct a study and identify candidates for relocating licences to strengthen land-based operations. The Spectrum Gaming Group prepared a 45-page report.
The agency identified 4 zip code territories with the greatest unrealised potential for gambling revenue. Using this data, the firm’s experts modelled the adjusted GGR for properties in the area. The calculations showed that the best places for casino development are downtown Indianapolis and the location north of Fort Wayne.
The state’s capital is the 16th-largest city in the US, with a population of approximately 900,000.
The regions with 15 bigger megalopolises can be roughly divided into 3 groups:
- those with casinos in densely populated areas (Illinois, New York, Ohio, Pennsylvania);
- indigenous territories (Arizona, California, Florida, North Carolina);
- a province with no venues of a type (Texas).
Aaron Freedman, Indiana’s Senator, announced plans to introduce legislation allowing gambling halls to be located directly in the state capital. Currently, the closest facility to the city is Horseshoe Indianapolis in Shelbyville, approximately 30 miles from downtown.
The Main Things About US Offline Casino Potential
Despite the regulatory challenges in 2025, industry experts assess the growth dynamics of the American land-based gaming sector as positive. The second half of the year was distinguished by several important legislative changes related to the approval and expansion of entertainment markets.
The most promising regions for integrated resort development in 2026 are:
- Texas;
- Georgia;
- Indianapolis.
Feel free to contact our managers for up-to-date information about the gambling sphere. We monitor industry trends and offer a wide range of business solutions for various real-money amusement formats.
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