Slot machines loom large in Nevada casinos. You can't miss their bright lights and booming sounds when you step inside any gaming facility.

Throughout the state, slots accounted for $10.7 billion in revenue — nearly 68 percent of Nevada's total revenue of $15.8 billion in 2025. Nationwide, slot machines produced $91 billion in revenue in 2025, half of the $182 billion reported by the U.S. casino industry, according to figures released by the Gaming Control Board and a Southern California gaming research firm. 

Slot income has been siphoned away by other forms of legal gambling adopted by the U.S. casino industry in the last six years, including sports betting and advancements in table games. According to Eilers & Krejcik Gaming, it was 57 percent of nationwide gaming revenue in 2019. Company CEO Todd Eilers predicted slot revenue would increase to $104 billion this year, a 4 percent jump from 2025. 

Still, the CEOs of the four major slot machine manufacturers are upbeat on the market's potential for continued growth — especially in Nevada where casinos operated more than 126,000 slot games statewide in 2025. Slots provide a steady revenue source for the Strip as the market's more influential live table game business, such as high-end baccarat, skews Strip gaming revenue on a monthly basis.

Most of the major gaming equipment providers have corporate headquarters or base their U.S. presence in Nevada. IGT CEO Hector Fernandez said the company's North American manufacturing operations are run out of in Reno. 

"It's really important to us to maintain that presence in the state," he said.

Eilers & Krejcik Gaming, which is considered the primary reference resource on the gaming equipment sector, said IGT, Aristocrat Technologies, Light and Wonder and Konami Gaming are ranked as the top four market leaders, supplying a combined 82 percent of all games on casino floors.

During the Global Gaming Expo last week, The Nevada Independent posed four questions about the industry's future to the four slot companies' top executives. Their answers have been edited for brevity.

Question 1: How has the overall dip in the U.S. economy affected sales and/or development of new products? Has the on again/off again tariff war with Canada slowed sales or development of new products?

Fernandez: The gaming market remains resilient, but operators are looking more closely at performance and the value of every investment. Economic and tariff uncertainty has added complexity to cost and supply chain planning, but it has not changed our product roadmap or commitment to innovation. If anything, it has sharpened our focus on developing high-performing content and connected solutions that help operators work more efficiently, strengthen the player experience and create greater value across the casino floor.

Light and Wonder CEO Matt Wilson: We're certainly mindful of the broader economic environment and the impact that uncertainty can have on our customers. Operators are making thoughtful decisions about where they invest. What hasn't changed is our commitment to innovation. We continue to invest in our studios, our talent and our technology because great content is ultimately what drives this business. From a tariff perspective, we're closely monitoring the evolving trade environment and managing our supply chain accordingly.

Aristocrat Gaming CEO Craig Toner: The gaming industry has historically demonstrated remarkable resilience through different economic cycles, and we're continuing to see that today. Our focus hasn't changed. We continue investing in innovation, content development and technology because that's what our customers expect from us. While broader economic conditions can create uncertainty in any industry, we've maintained strong momentum across our portfolio and continue to see operators prioritize products that deliver measurable returns on their floors.

Konami Gaming President Tom Jingoli: When the U.S. economy softens, consumer spending across most verticals — gaming included — tends to follow. Rising costs for essentials like fuel, groceries and travel put pressure on discretionary budgets, and that pressure shows up quickly in casino visitation and spend per visit. As a games and technology supplier, it forces Konami to get creative with sales programs that give casinos flexibility and value where a specific casino needs it most, because every casino is different. Managing increased tariffs is not a simple price increase on products. It impacts everyone, and we're all doing our best to adopt different solutions besides just passing the cost to casino operators.

Question 2: What are the top two primary focuses for your company heading into 2027?

Wilson: We're focused on building on the strength of our game portfolio. We've seen investment come to life through our established franchises, new licensed titles and next-generation hardware. Second, it's about maximizing the opportunities across our business. We have a unique ability to take successful content and extend it across land-based gaming, iGaming and social casino, while continuing to expand our presence in charitable gaming.

Toner: Our first priority is continuing to lead through innovation. That starts with creating great content, investing in new hardware experiences, and leveraging data, analytics and technology to help our customers grow their businesses. Player expectations continue to evolve, and our job is to stay ahead of those expectations. Bringing those capabilities together in a more connected way allows us to create greater value for operators and deliver more seamless experiences for players.

Jingoli: Konami has been in entertainment for over 50 years, so there's proven creativity, knowledge and power behind our games. Creating popular games is a primary focus. Konami is focused on supporting casinos in areas that are fundamental to the gaming landscape, but aren't as obvious. There are hundreds of casinos in regulated jurisdictions that don't have the option for traditional slots, but they still need safe, approved games. Konami supports those specialty markets with machines and content, specific for math outcomes they allow like bingo, historical horse racing and more.

Fernandez: Our priority is creating games players want to play, strengthening our franchises and using data, testing and player insights to improve game performance. We also see significant opportunity to scale successful content across land-based and digital channels. We are bringing together games, systems and FinTech as one connected portfolio that creates a more fluid experience for players and less friction for operators. We also brought in Jamie Knight as our chief studios officer. She brought together talented teams, strengthened how our studios operate and raised the bar for creative and operational excellence. 

Question 3: What are the top markets — in the U.S. and abroad — for gaming equipment providers heading into 2027? Where does the United Arab Emirates (UAE) fit into the equation?

Toner: In the U.S., we're continuing to see healthy opportunities across both established gaming jurisdictions and expanding regional markets. Operators everywhere are looking for differentiated content, stronger technology platforms and solutions that help them better understand and engage players. There is considerable interest across the industry in understanding how [the UAE] unfolds over the coming years.

Jingoli: The global arena for regulated, land-based casino gaming is unlikely to produce major expansion in the next year. However, there are countries laying the groundwork for future launch. Asia is a high-potential market, including Japan and the UAE. Brazil also has great potential. Across all these nations, Konami is among the first movers seeking to become an approved gaming supplier by the regulatory bodies.

Fernandez: All markets are important for different reasons, and our goal is to be competitive in every market where IGT participates. The United States offers a large and diverse mix of commercial, tribal and route gaming opportunities. Canada, Australia, Asia, Europe and Latin America each have distinct player preferences, operating environments and opportunities for growth. We are encouraged by the thoughtful approach being taken and the potential for the UAE to become an important international gaming destination.

Wilson: North America remains an important market for us, and we continue to see opportunities across commercial and tribal gaming. We're focused on growing our installed base, introducing new content and hardware, and helping operators modernize their casino floors through our systems and technology offerings. Our global studio network and broad portfolio allow us to develop content that resonates with players in different markets. The UAE is certainly an exciting emerging market for the industry. The development of Wynn Al Marjan Island represents a significant milestone.

Question 4: Do you see an avenue for expansion in Nevada's gaming market for the equipment sector, beyond the products that will be delivered for new Hard Rock Las Vegas?

Jingoli: The Nevada market will likely remain flat for gaming equipment suppliers in the foreseeable future, outside the new Hard Rock Las Vegas. Overall, the land-based casino gaming industry is a mature global market. Suppliers like Konami gain market share by offering superior products. Konami's [casino management system] is a good example of this, where we have grown our global reach by 20,000 machines in less than five years. Over 90 percent of that growth came from existing casinos deciding to switch to Konami. There wasn't a large amount of growth due to new casino openings.

Fernandez: Nevada's opportunity is much broader than any single new property. It has one of the industry's largest and most visible installed bases, creating ongoing demand for game and cabinet refreshes, premium products, systems modernization, financial technology, loyalty solutions and new ways to connect the player experience. Nevada also serves as an important showcase for the broader industry.

Wilson: Nevada is one of the most established and competitive gaming markets in the world, and that creates an ongoing need for innovation. We see Nevada as an important market for showcasing innovation, and we believe there's plenty of opportunity beyond new casino developments. Operators are constantly looking for ways to refresh their floors, introduce new gaming experiences and leverage technology to better engage their players.

Toner: While major developments like Hard Rock Las Vegas naturally create opportunities, expansion isn't driven solely by new properties. Existing operators are continuously investing in technology, floor optimization, premium product categories and new entertainment experiences to stay competitive.  Nevada has always been a market that embraces innovation, and I expect that to remain true well beyond any individual development project.