New Jersey’s gambling sector closed 2025 with nearly $7 billion in combined revenue across casinos, online operators, and sportsbooks. December played a prominent role in setting the pace for the year, with both internet gaming and sports wagering rising substantially compared to 2024 while Atlantic City’s casino hotels showed mixed numbers.
The New Jersey Division of Gaming Enforcement (NJDGE) recorded $605.6 million in total gaming revenue for December 2025, an increase of 15.9% from the $522.6 million achieved during the same month in 2024. For the 2025 calendar year, total revenue reached $6.98 billion, which amounted to 10.8% growth compared to 2024.
Internet Platforms Establish Momentum
Internet gaming operators saw the most notable increases throughout the year and during December. The NJDGE reported $273.2 million in online gaming revenue for December 2025, reflecting 19.8% growth when measured against the $228.0 million recorded one year earlier. For 2025 as a whole, internet gaming produced $2.91 billion in revenue, which represented a 22.0% improvement from 2024’s $2.39 billion result.
The growth rate in online gaming continued year after year, with the iGaming vertical reaching new highs. Monthly revenue in December marked an all-time record for operators, surpassing the previous monthly peak of $260.3 million set in October. Over the longer span, yearly online casino revenue advanced from $1.37 billion in 2021 to $1.66 billion in 2022, $1.92 billion in 2023, and $2.39 billion in 2024 before settling at $2.91 billion in 2025.
For the first time, annual internet gaming revenue exceeded retail casino revenue in Atlantic City. Online platforms generated $2.91 billion while the city’s casinos reported $2.82 billion. Despite falling behind online channels, Atlantic City casino hotels recorded increases for the full year. Annual casino win for the nine properties reached $2.89 billion in 2025, up 2.7% compared to 2024, although December’s casino win declined 6.7% year over year.
Sports Betting Finishes Strong
As stated in the regulator’s press release, sports wagering also contributed to the year’s growth, fueled by a notably strong December. Gross sports wagering revenue for December 2025 reached $116.3 million, up sharply from the $62.8 million posted in December 2024. For the year, sportsbooks generated $1.18 billion in revenue, marking a 7.5% increase from 2024.
The $116.3 million December figure included both online and retail betting, generated from $1.06 billion in handle, for a hold of nearly 11%. For the year, sportsbooks produced a total handle of $12.2 billion. Parlays played a significant role, finishing 2025 with a 19.2% hold compared to lower holds across football, basketball, baseball, and other sports.
FanDuel led operators during December with nearly $50.2 million in revenue, up more than 69% year over year. For the full year, FanDuel recorded $470 million in revenue, increasing 2.3% from 2024. DraftKings followed with $34 million for December and $325.3 million for 2025, which reflected a 12.5% yearly increase. BetMGM held third place with $8.3 million for December and $85.8 million for 2025, rising 21.5% year over year.
Industry Observers Weigh In
James T. Plousis, chairman of the Casino Control Commission, stated: “Internet gaming win set a monthly record in December and, for the first time, annual internet gaming win exceeded in-person casino win. Atlantic City’s annual casino win grew 2.7% compared to 2024, achieving its best result since 2012 – demonstrating that in-person and on-line gaming can succeed together.
“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. Statewide, gaming-funded contributions to programs that benefit seniors and disabled residents topped $800 million in 2025 – an increase of 33% compared to 2024 – and total annual gaming taxes topped $1 billion.”
Jane Bokunewicz, faculty director at Stockton University School of Business, noted that the reported figures reflected both strength and pressure across the sector. “News from Atlantic City’s casino operators continues to be bittersweet as record year-end total gross gaming and near-term record annual brick-and-mortar gaming revenues mask other market challenges.
“Operators continue to struggle with increased labor costs and increases in the cost of goods and services. These and other factors will likely draw net revenue and gross operating profits down.
“We will not get a full picture of the industry’s 2025 performance until net revenues and gross operating profits are reported later this spring.”
