New Jersey iGaming Revenue Hits Record $243.9M in March

New Jersey’s gambling industry reached a significant milestone in March, with online gaming revenue hitting an all-time high of $243.9 million, according to data released by the New Jersey Division of Gaming Enforcement (NJDGE) on April 16. However, this record-setting figure comes against a backdrop of declines in both sports betting and land-based casino revenue.

The state’s total gambling revenue across all verticals—igaming, land-based casinos, and sports betting—climbed to $546.1 million in March, marking a 3.7% year-on-year increase and a notable 12.6% rise from February’s total. The digital segment once again proved dominant, extending a trend seen throughout early 2025.

March represents only the fourth month in which igaming has generated the most revenue among all forms of gambling in New Jersey. With continued momentum, online gaming has begun to eclipse the once-dominant land-based casino sector in financial performance.

iGaming Surges Ahead with 23.7% Yearly Growth

Online gaming revenue was up 23.7% from March 2024, reinforcing the sector’s rapid expansion. Of the $243.9 million total, $241.3 million was generated from “other authorized games,” primarily online slots—up 23.9% year-on-year. Online poker contributed the remaining $2.6 million, an 8.9% increase.

Among individual operators, FanDuel and Golden Nugget Atlantic City topped the igaming charts with $52.3 million in revenue, up 25.7% from the prior year. DraftKings and Resorts Casino Hotel followed closely with $49.6 million, a 20.3% increase. BetMGM and Borgata brought in $31.6 million, while Borgata’s own platform earned $22.4 million. Caesars and Tropicana Atlantic City rounded out the top five with a combined $15.7 million.

In contrast, sports betting revenue dropped sharply, declining 20.5% from the previous year to $71.3 million in March. This figure also fell short of February’s $73.6 million, continuing a downward trend for the segment.

Online sports betting accounted for $68.0 million of the total, down 20.6% year-on-year, while retail sportsbooks generated $3.3 million—a 17.3% decrease. Total betting handle across online and retail channels was $1.11 billion, down 23.5% from March 2024. The overall monthly hold came in at 6.44%. FanDuel and Meadowlands led the online market with $23.4 million in revenue, despite a 13.4% annual decline. DraftKings and Resorts Casino Hotel recorded $19.9 million, up 13.4%, while BetMGM and Borgata saw a significant 35.8% boost to $8.0 million.

Other notable online operators included BetFanatics and Bally’s ($4.4 million), Caesars and Tropicana ($3.0 million), Bet365 and Hard Rock ($2.8 million), and ESPN Bet and Resorts ($2.7 million). In the retail space, Meadowlands led with $2.0 million in revenue—up 8.2%—followed by Monmouth Park at $432,393, representing a 38.3% drop.

Revenue from New Jersey’s land-based casinos totaled $230.9 million in March, a 3.7% decrease compared to the same month last year. Slot machine win held relatively steady with a 0.5% rise to $173.6 million, but table games saw a significant 14.6% decline, bringing in $57.3 million.

Among Atlantic City’s casinos, Borgata remained the market leader with $58.4 million in revenue, a 3.3% uptick. Hard Rock was second with $44.5 million, up 0.2%, while Ocean Casino posted $34.7 million, down 14.8%. The state collected a total of $59.8 million in gambling taxes for March. Of this, $36.5 million came from online gaming, $14.3 million from land-based casinos, and $8.8 million from online sports betting. Retail sportsbooks contributed an additional $241,482.

 

iGaming’s record-breaking performance in March marks a definitive shift in New Jersey’s gambling landscape, as digital platforms continue to outpace traditional casino and sportsbook revenues,

 

Conclusions

March’s figures underscore a shifting dynamic in New Jersey’s gambling landscape. While land-based casinos once drove the majority of revenue, consumer behavior is increasingly favoring online platforms. iGaming’s continued rise, particularly in online slots, suggests a long-term trend that could reshape the industry’s economic balance.

Meanwhile, the sustained dip in sports betting revenue—particularly in terms of handle—raises questions about market saturation, bettor fatigue, or reduced sports calendar engagement.

As online gaming continues to surge, regulatory agencies and operators alike will need to adapt to this digital-first reality, while closely monitoring the performance of more volatile segments such as sports wagering.