New Jersey gaming revenue rises 5.1% in February 2025 amid digital growth 

Key points:  

– February 2025 gaming revenue increased 5.1% to $484.8m, while year-to-date (YTD) revenue rose 1.8% to $1.04bn

– iGaming revenue grew 14% year-on-year to $207.8m, accounting for the largest share of gaming revenue 

– Land-based casino revenue declined 3.8% to $203.5m, while sports betting revenue rose 8.9% to $73.6m

New Jersey’s gaming industry saw mixed results in February 2025, with strong growth in online gaming and sports wagering balancing a decline in land-based casino win.

The state’s total gaming revenue reached $484.8m for the month, reflecting a 5.1% year-on-year increase.

Online gaming continued its upward trajectory, generating $207.8m in revenue, a 14% increase from February 2024. The iGaming sector also reported YTD revenue of $429.4m, up 17.4%.

Golden Nugget Atlantic City led the online gaming market with $60.1m in revenue, followed by Borgata Hotel Casino & Spa ($51.5m) and Resorts Casino Hotel ($48.8m).

Meanwhile, brick-and-mortar casinos reported a 3.8% decline in casino win, totalling $203.5m in February. This drop contributed to a slight 0.7% decrease in YTD land-based casino revenue, which stood at $413.5m.

Borgata Hotel Casino & Spa remained the highest-grossing land-based property, generating $49.9m in casino win, followed by Hard Rock Atlantic City at $41.9m.

Casino operators have continued to adjust to the evolving market conditions, with some properties focusing more on digital expansions to offset declining in-person gambling revenue.

The rise in iGaming activity reflects a broader trend in the industry, where consumer habits are shifting toward online platforms, particularly in states with well-established digital gaming regulations.

Sports Betting revenue increases despite year-to-date decline  

Sports betting revenue rose 8.9% in February to $73.6m. New Meadowlands Racetrack, which houses FanDuel’s retail sportsbook, generated the highest revenue, accounting for $33.9m.

Resorts Casino Hotel, home to both DraftKings and ESPN Bet, reported $21.8m in sports betting revenue, with $20.3m attributed to DraftKings.

Despite the strong monthly performance, YTD sports wagering revenue fell 17.9% to $195.8m, down from $238.3m in the same period last year. The decline followed a challenging January, in which sports betting revenue dropped 28.4%.

Analysts have attributed this downturn to a combination of lower betting volumes, promotional changes among operators and increased competition in neighbouring states.

New Jersey’s sports betting market remains one of the most competitive in the country, with leading operators like FanDuel, DraftKings and BetMGM vying for market share.

However, some operators have faced challenges in maintaining their previous revenue levels, with the state’s top sportsbooks reporting double-digit revenue declines in January. The February rebound suggests that consumer betting activity remains strong despite fluctuating month-to-month performance.

Comparing performance to January 2025 and historical trends 

February’s results followed a weaker start to 2025. In January, total gaming revenue declined 0.9% to $533.9m, driven by a 28.4% drop in sports betting revenue. However, iGaming revenue grew 20.9% to $221.6m, highlighting the sector’s resilience.

Historically, February has shown steady gaming revenue growth. In February 2024, total gaming revenue was $461.5m, meaning the 2025 results represent a 5.1% increase.

The long-term trajectory of New Jersey’s gaming industry suggests that online gaming and sports betting will continue to play an increasingly significant role in revenue generation, particularly as traditional casino win experiences more volatility.

The shift toward digital gaming has also prompted regulatory discussions in the state, particularly around how best to balance brick-and-mortar casino operations with online gambling growth.

Some industry stakeholders have raised concerns about how declining land-based revenues could impact employment and investment in Atlantic City, while others argue that online expansion is necessary to sustain overall market growth.

Future outlook and market trends 

New Jersey’s gaming industry continues to shift toward digital platforms, with iGaming now accounting for the largest share of total gaming revenue. While land-based casino revenue faces challenges, sports betting and online gaming remain key growth drivers.

With YTD gaming revenue surpassing $1bn, the industry remains on a stable growth trajectory, though fluctuating sports betting performance will be a factor to monitor in the coming months.

Looking ahead, regulatory developments, potential new market arrivals and evolving consumer behaviour will play a crucial role in shaping the future of New Jersey’s gaming sector.