As we head further into 2025, the latest gambling-related news from New Jersey points to a continued positive showing from the Garden State’s iGaming Industry. In January, the New Jersey gambling revenue hit a high of $553.9 million.
While this figure represents a nominal 0.9% drop from the January 2024 numbers, it still marks a healthy 6% increase on December figures. Industry sources suggest the drop is due to a poor showing from the state’s sports betting sector, even as iGaming continues to shine through.
One thing that the January figures indicate is that online gaming is still in a growth phase. New Jersey’s iGaming sector posted an impressive $221.6 million in revenue, a 20.9% surge from 2024. This is the second occasion that online gaming has come out on top, the previous record being in October 2024.
The real stars of the show were online slots and other digital games, which raked in $218.9 million of the total pool, showing a solid 21.1% increase from 2024. Online poker was not left out of the party, as it contributed $2.7 million, representing an 8.1% year-on-year growth. The message is becoming increasingly clear – New Jersey gamblers are increasingly favoring their couches over retail outlets
As online casinos hit sustained revenue heights, New Jersey sportsbooks came up short. Sports betting revenue dropped by 28.4% to $122.2 million, with online sports betting being the hardest-hit sector, falling 29% to $118.5 million. Traditional sportsbooks were not let off the hook as they slid down 6.4% to $3.6 million. And in what is quite the tumble, the total betting handle fell from $1.72 billion last year to $1.15 billion. Despite this, the state still recorded a 10.61% hold rate, which points to a decent attempt by the sports betting operators to manage their books.
The January figures provided an opportunity to spot the key players in the NJ gaming scene. With $49.7 million in revenue (for a 26.4% year-on-year jump, FanDuel and Golden Nugget Atlantic City came out on top. DraftKings and Resorts Casino Hotel came in second place, with $44.1 million, while BetMGM and Borgata followed with $28.8 million.
FanDuel and Meadowlands led with $53.1 million for the sportsbook sector, marking a 34.2% drop from 2024. Next on the list were BetMGM and Borgata, both of which grew by 6.3% to reach $7.4 million.
Traditional casinos also put in some strong figures, as land-based casino revenue grew 2.6% to record $210.1 million for January. It wasn’t exactly a surprise to see slot machines come out on top and rake in $145.4 million (up 2%), while table games pooled a decent $64.4 million (up 4.1%).
With $69.4 million in revenue, Borgata extended its reign as king of the boardwalk, growing 4.7% in the process. Hard Rock followed closely with $38.1 million and Ocean Casino dived in with $35.2 million. Surprise performance of the month came from Tropicana Atlantic which pulled in a $15.1 million revenue to record an impressive 13.2% increase year-on-year. All this while New Jersey casinos continue to debate the subject of in-house smoking, which could affect key figures when a resolution is reached on the matter.
Discussions surrounding the tax revenue contribution made by the New Jersey gaming industry returned to the forefront when the latest figures were announced. The state realized a total of $62.1 million in tax revenue, with iGaming contributing over 50% at $33 million. Online sports betting and traditional casinos added $15.4 million and $13.3 million, respectively, while retail sports betting chipped in with $307,487.
The taxes accrued from the gaming industry continue to be used to support services and infrastructure projects. Once again, it has shown that New Jersey can continue relying on its gambling sector to bolster the state’s overall economic health.
The January figures appear to indicate the shape of things to come for the New Jersey gambling industry. Online gaming is the obvious rising star, although traditional, land-based casinos are still very much in the picture.
However, the industry is still facing a few challenges, with the ongoing debate about casino smoking policies and the unending struggle to balance online and in-person gaming as the biggest issues. Nonetheless, the big news is that the New Jersey gaming industry isn’t merely surviving, it is evolving.
