New Jersey’s gaming industry posted a fifth consecutive annual revenue record in 2025, lifted by rapid growth in online casino gambling that for the first time outpaced the state’s land-based casinos, state regulators said.
Total gross gaming revenue (GGR) reached $6.98 billion, up 10.8% from 2024, according to data released by the New Jersey Division of Gaming Enforcement. Gamblers lost more than $6.9 billion across casinos, online gambling and sports betting during the year, cementing New Jersey’s position as the second-largest gaming market in the United States after Nevada.
Online casino gambling, known as iGaming, remained the main growth engine, generating $2.91 billion, a 22% increase from the previous year. In a milestone for the state’s market, iGaming revenue exceeded that of the nine physical casinos in Atlantic City for the first time.
December capped the year with a record $273.2 million in online casino revenue, the highest monthly total ever reported in the state.
“A successful gaming industry benefits all of New Jersey. It has sparked investment in Atlantic City’s convention, tourism, and entertainment centers, creating jobs and producing new economic activity across South Jersey,” said James Plousis, chair of the New Jersey Casino Control Commission.
State gaming taxes exceeded $1 billion in 2025, with online casinos alone contributing nearly $581.9 million, helped by a higher iGaming tax rate of 19.75% that took effect on July 1.
Atlantic City’s brick-and-mortar casinos recorded mixed results. Overall casino GGR rose 2.7% to $2.89 billion, but only four of the nine casinos posted year-on-year gains in in-person play. Borgata remained the market leader, reporting $800.8 million in revenue, up 8.5% from 2024. Hard Rock, Ocean and Harrah’s were the only other properties to show growth.
Several legacy casinos struggled. Bally’s posted the steepest decline, while Golden Nugget, Caesars, Tropicana and Resorts all reported lower in-person revenue for the year.
Online operators continued to consolidate their lead. FanDuel topped the market with $655.5 million in 2025 revenue, up 29.4%, followed by DraftKings and BetMGM, both of which posted double-digit growth. However, several brands, including Bally Bet and PokerStars, saw their annual revenue fall despite the broader market expansion.
Analysts warn that Atlantic City faces mounting pressure from rising operating costs and intensifying regional competition. Three full-scale casinos planned for downstate New York – a key feeder market for Atlantic City – could further strain weaker properties, with Bally’s seen as particularly vulnerable in the coming years.
Original article: https://www.yogonet.com/international/news/2026/01/19/117201-new-jersey-gaming-revenue-reaches-698-billion-in-2025-online-casinos-lead-growth
