New Jersey smashes gambling revenue record in 2025

Summary

Gambling revenue in New Jersey hit a record $6.98 billion in 2025, up 10.8% year-on-year, driven by 22% growth in iGaming which generated $2.91bn — the first year online casinos out-earned land-based casinos. Sports betting rose to $1.18bn and land-based casinos brought in $2.89bn. Major operators FanDuel/Golden Nugget, DraftKings/Resorts World and BetMGM/Borgata posted strong gains. The state collected $1.01bn in gambling taxes for the year.

Key Points

Total 2025 gaming revenue: $6.98bn — a 10.8% increase on 2024.
iGaming revenue $2.91bn, up 22%, surpassing land-based casino revenue for the first time.
Online slots and table games: $2.88bn; internet poker: $30.3m (up 6.3%).
Sports betting revenue: $1.18bn (up 7.5%); online betting $1.15bn.
Land-based casinos: $2.89bn (up 2.7%); slots $2.13bn, table games $762.5m.
Top operators — FanDuel/Golden Nugget $655.5m (up 29.4%); DraftKings/Resorts World $569.8m (up 10.6%); BetMGM/Borgata $376m (up 30.7%).
State taxes from gambling: $1.01bn (iGaming $581.9m; sports betting $209.1m; land-based $216.8m).
December 2025: total revenue $605.6m (+15.9% vs Dec 2024); sports betting month up 85% to $116.3m.

Content Summary

The New Jersey Division of Gaming Enforcement reported record annual revenue for 2025, largely fuelled by a surge in online casino activity. iGaming grew substantially, overtaking Atlantic City’s brick-and-mortar casinos in total revenue for the first time. Sports betting continued to expand, with most activity taking place online, though overall handle fell slightly. Land-based casinos saw modest gains, led by table games. The regulator also published December figures confirming a strong year-end performance.

Context and Relevance

This result highlights the ongoing shift from land-based to digital gambling in mature US markets. For operators, regulators and suppliers the data confirms that investment in online platforms remains the primary growth lever. It also affects tax receipts and policy debates in states considering market structure and responsible gambling measures. The strong performances by market leaders underline continued consolidation among major sportsbook and casino operators.

Why should I read this?

Quick and dirty: if you work in gaming, payments, regulation or regional policy — this matters. New Jersey just proved online gaming is now the engine of revenue growth, and that reshapes strategy, tax forecasts and where the action (and regulation) will be in 2026.

Author style

Punchy — this is a high-impact market update. Read the numbers if you want to understand where the industry is heading; the figures are a clear signal, not background noise.