New Jersey Gambling Revenue Nears $7B as iGaming Redefines the Market in 2025
Record online casino growth overtakes Atlantic City retail revenue, signalling a structural shift in New Jersey’s gaming economy
New Jersey’s gambling industry is closing 2025 at a historic high, with total gaming revenue reaching $6.98 billion, placing the state within touching distance of the $7 billion milestone. Figures released by the New Jersey Division of Gaming Enforcement highlight not just another strong year for regulated gaming, but a clear turning point in how revenue is being generated across the market.
The defining feature of 2025 is the continued acceleration of iGaming. Online casino platforms generated $2.91 billion in revenue over the year, representing a 22% increase compared with 2024 and marking the first time iGaming has outperformed retail casino revenue on an annual basis. December alone delivered $273.2 million in online casino revenue, setting a new monthly record and underlining the sector’s momentum.
Retail casinos in Atlantic City remain a central pillar of the state’s gaming landscape, producing $2.82 billion in revenue during 2025. While land-based casinos recorded a year-on-year dip in December, full-year revenue still rose by 2.7%, delivering Atlantic City’s strongest annual performance since 2012. Regulators and industry leaders continue to emphasise that in-person and online gaming are not mutually exclusive, but increasingly complementary.
Sports betting, which previously drove much of New Jersey’s gaming growth, played a more subdued role in 2025. Sportsbooks generated $116.3 million in revenue in December, trailing both online casinos and retail properties. While sports betting remains a significant vertical, the latest figures suggest the centre of gravity in New Jersey’s gambling market is shifting decisively toward casino-style digital products.
State officials have highlighted the broader economic impact of the industry’s performance. Gaming-related contributions to public programmes supporting seniors and people with disabilities exceeded $800 million in 2025, a substantial increase on the previous year. Total gaming tax contributions also surpassed $1 billion, reinforcing the sector’s importance to New Jersey’s public finances and wider economy.
Despite the headline growth, analysts caution that challenges remain for brick-and-mortar operators. Rising labour costs, higher operating expenses, and inflationary pressures continue to weigh on margins, even as topline revenue improves. A fuller assessment of market health will emerge later in 2026 when net revenue and gross operating profit figures are published.
What is already clear, however, is that New Jersey’s gambling market is evolving. iGaming is no longer a secondary channel or complementary add-on, but the primary engine of growth. With online casino revenue approaching the $3 billion mark and total gambling revenue edging closer to $7 billion, New Jersey is reinforcing its position as the leading regulated gaming market in the United States.
If current trends hold, 2026 could see the state cross the $7 billion threshold for the first time, further cementing the long-term role of iGaming as the dominant force shaping the future of regulated gambling in New Jersey.
