New Jersey's iGaming Revenue Sets New Record in May, Driving Overall Market Growth
By Liam O'Brien · Contributor2 min read
Online gambling revenue in New Jersey surged to a new record in May, reaching $246.8 million, as the Garden State reported year-on-year growth across all its market sectors. While land-based casinos reclaimed the top spot in terms of total revenue generated for the month, iGaming’s continued expansion and record performance remained a standout feature.
According to figures released by the New Jersey Division of Gaming Enforcement, total gambling revenue in May amounted to $614.7 million. This impressive figure surpassed the previous year’s total by 20.5% and was also 14.6% ahead of April’s revenue for this year. For the first time in several months, traditional land-based casinos drew the most revenue out of the market’s three segments (iGaming, sports betting, land-based casino). However, iGaming, which has consistently led the way in New Jersey recently, still commanded significant attention with its record-breaking monthly performance.
Record-Setting Month for New Jersey iGaming
New Jersey’s iGaming operators collectively generated a record $246.8 million in revenue, marking a 28.5% increase year-on-year and surpassing the existing record, set in March of this year, by 1.2%. This figure also exceeded April’s total by 4.9%.
Breaking down the iGaming revenue, $244.2 million was attributed to online slots and table games, showing a robust 28.6% increase from last year. The remaining $2.7 million came from internet poker, which saw a rise of 22.8%.
Leading the iGaming market in May were FanDuel and its partner Golden Nugget Atlantic City, reporting $54.5 million in iGaming revenue. Close behind in second were DraftKings and Resorts Casino Hotel with a monthly haul of $48.1 million. BetMGM and Borgata completed the top three with $32.5 million. Other notable operators included Borgata’s standalone platform with $20.8 million in revenue, and Caesars Palace and Tropicana Atlantic City at $18 million.
New Jersey Sports Betting Hold Reaches 10.14%
Turning to sports betting, revenue in this segment also saw significant growth, topping $102.5 million in May. This figure surpassed last year’s total by 30.2% and was 13.3% more than April’s figure for this year. Online betting generated $98 million of all sports wagering revenue, up 26.2% from 2024. However, it was the retail sector that showed the most dramatic improvement, with its $4.5 million total surpassing last year’s by a remarkable 326.6%.
In terms of spending, total handle for the month was $1.01 billion, which was 12.4% more than May of 2024 and 7% ahead of April. Customers spent $967.1 million betting online and $43.5 million at retail sportsbooks across New Jersey. The state’s monthly hold figure for sports betting reached 10.14%.
As for individual operator performance in sports betting (New Jersey does not publish monthly data on individual operator handles), FanDuel and Meadowlands continued to lead the online market, taking $44.3 million. DraftKings and Resorts Casino Hotel were again second with $28.3 million, followed by BetFanatics and Bally’s with $6.2 million. Bet365 and Hard Rock followed with $6.0 million, ahead of ESPN Bet and Resorts at $4.9 million. In the retail segment, Meadowlands was the clear market leader with $4.8 million in revenue.
Land-Based Casinos Bounce Back to Lead Total Revenue
After playing second fiddle to iGaming for several months, land-based casinos in New Jersey experienced a strong rebound in May, reclaiming the top spot by drawing more revenue than any other sector. The $265.3 million generated by land-based casinos was 10.9% higher than last year. Slot machine revenue jumped 7.5% year-on-year to $194.8 million, while revenue from table games climbed 21.9% to $70.5 million.
In terms of tax contributions, New Jersey collected a total of $66.8 million from all gambling sectors during May. Of this, $37.1 million came from iGaming, $16.5 million from land-based casinos, $12.7 million from online sports betting, and $454,318 from retail sports wagering. Year-to-date, total gambling revenue in the state has been 6.6% higher at $2.74 billion. Of this, $1.16 billion came from iGaming, $1.12 billion from land-based casinos, and $460.2 million from sports wagering.
The May 2025 results underscore the dynamic nature of New Jersey’s gambling market, with iGaming continuing its strong growth trajectory and setting new records, while land-based casinos also demonstrated a healthy rebound, contributing to overall positive revenue performance across all key segments.
