New Jersey records record iGaming revenue in March, while sportsbooks slump

New Jersey has recorded a record iGaming revenue figure of $243.9 million. 

Despite the uplift, both sports betting and land-based casino revenues have dipped. 

Data released on Wednesday (April 16) by the New Jersey Division of Gaming Enforcement (NJDGE) showed that the total gambling revenue in the state reached $546.1 million.

The March 2025 total is 12.6% greater than February, with a 3.7% increase on March 2024. 

iGaming was the greatest contributor to the total, carrying on the pattern from the first two months of the year, as the online sector continues its upward trajectory. 

Land-based casinos were traditionally the biggest driver of gambling revenue in the Garden State, but changing player behaviors mean the sector has been eclipsed, at least temporarily. 

It could be a permanent change, with indications suggesting that it will be. 

Last month, revenue from iGaming increased 23.7%, year-on-year. That is a significant spike, although it is just the fourth time that iGaming has been the biggest contributor to overall gambling revenues in a single month in New Jersey.

The ongoing growth is evidenced by Soft2Bet’s imminent arrival in the U.S. market with a new online gaming brand in New Jersey. The launch is set for summer 2025, through a market access agreement with Caesars Entertainment, pending regulatory approval.

The breakdown of the market indicates $241.3 million derived from ‘other authorised games’, meaning online slots, while the remainder of  $2.6m came from online poker.

The main operators in the state are FanDuel and Golden Nugget Atlantic City, with their $52.3m revenue figure revealing an increase of 25.7%. 

Not far behind was the partnership between DraftKings and Resorts Casino Hotel, with their $49.6m revenue representing a 20.3% rise. 

The top five were made up of BetMGM and Borgata ($31.6m), Borgata’s standalone venture ($22.4m), and Caesars and Tropicana Atlantic City ($15.7m).

As for sportsbooks, the downward trend continued, with the revenue total of $71.3m representing a 20.5% year-on-year drop, as well as a fall from February’s $73.6m.

The breakdown showed the bulk of the revenue income was received from online betting, with the $68m down 20.6% from last year. The remainder of $3.3m came from the retail sportsbook sector, reporting another significant year-on-year decline of 17.3%. 

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