September Sees New Jersey Gambling Revenue Rise

New Jersey’s gambling industry posted modest year-on-year growth in September, with total revenue reaching $563.7 million, according to data from the New Jersey Division of Gaming Enforcement (DGE). The figure was up 1% from the same month in 2024, indicating a stable overall market performance. However, the total was 12.2% lower than August’s figure, underscoring a noticeable monthly slowdown. The mixed results reflected continued strength in online casinos and land-based gaming, offset by a sharp decline in the sports betting segment. The data suggest that while New Jersey’s gambling market remains resilient, it is showing signs of saturation in certain areas, particularly in sports wagering.

 

Category	Revenue (Sept 2025)	Year-on-Year Change
Total Gambling	$563.7M	+1%
Sports Betting	$89.8M	-24.9%
iGaming	$243.1M	+16.8%
Land-Based Casinos	$230.7M	+0.1%

 

Sports Betting Pulls Overall Growth Down

The state’s sports betting market was the most significant drag on total revenue in September. Operators reported a 24.9% decline in sports wagering revenue year-on-year, totaling $89.8 million for the month. While online betting continued to account for virtually all of the sector’s income, retail sportsbooks collectively suffered a $13,173 loss, reflecting weak in-person betting activity. The downturn marks one of the sharper declines for New Jersey’s sports betting market in recent months and comes despite an increase in the total amount wagered.

The total betting handle—the amount staked by players—rose 3.7% to $1.13 billion, showing that betting activity remained strong even as operator margins fell. Online betting made up $1.07 billion of that total, with another $60.1 million wagered at retail locations. The monthly hold rate, or operator win percentage, stood at 8.72%, which is lower than recent averages and likely contributed to the revenue dip.

Among operators, FanDuel and Meadowlands maintained a dominant position, posting $37.7 million in online revenue for September. DraftKings and Resorts World followed with $22.6 million, while BetMGM and Borgata earned $7.1 million. On the retail front, Meadowlands continued to lead with $4.2 million, while Monmouth Park was the only other operator surpassing the $1 million mark, generating $1.2 million. The data reinforce the market’s concentration, with a small number of brands capturing the majority of New Jersey’s sports betting revenue.

The iGaming sector once again proved to be the state’s most reliable growth engine. Online casino revenue climbed 16.8% year-on-year to $243.1 million, just shy of the $248.4 million record set in August. This continues a long-running trend in New Jersey, where online gambling has steadily expanded since its legalization in 2013. The figures highlight a growing consumer shift toward digital gambling platforms, which now account for nearly half of the state’s total gaming revenue.

Slots and table games were the largest contributors, generating $240.7 million, up 16.9% compared to September 2024. Online poker also posted gains, rising 10.7% to $2.5 million, suggesting that player engagement remains stable even in a niche category. The strong performance in iGaming helped cushion the overall revenue drop from sports wagering, and industry analysts view this segment as a key driver of future growth.

In terms of market share, FanDuel and Golden Nugget remained on top with $56.6 million in combined iGaming revenue. DraftKings and Resorts World ranked second with $48.4 million, followed by BetMGM and Borgata at $30.3 million. Together, these three partnerships generated more than half of all online gambling revenue in the state, underscoring their dominant positions in the market.

 

Land-Based Revenue Flat Amid Slot Weakness

At Atlantic City’s nine casinos, land-based gaming revenue edged up 0.1% year-on-year to $230.7 million. While the increase was marginal, it indicates that the traditional casino sector remains stable despite competitive pressure from online platforms. Table games were the bright spot for the month, rising 5.7% to $60.6 million, helped by higher visitor numbers and increased play among premium customers. However, slot machine revenue fell 1.8% to $170.1 million, reflecting a continued decline in casual, low-stakes gaming activity on the casino floor.

Casino operators in Atlantic City have increasingly relied on hotel, entertainment, and food-and-beverage revenue to supplement their gaming income. The latest data suggest that while the brick-and-mortar segment remains profitable, its growth potential is limited compared to the online market, where margins are higher and overhead costs are lower.

 

While sports betting faced a challenging month, online casinos continue to drive growth and keep New Jersey’s gambling market on track,” said David Rebuck, director of the New Jersey Division of Gaming Enforcement

 

Year-to-Date Totals Show Broad Gains

For the first nine months of 2025, New Jersey’s total gambling revenue reached $5.13 billion, an 8.7% increase compared to the same period in 2024. The year-to-date results reflect continued momentum in digital gaming and stable performance across physical casinos, even as sports betting shows signs of volatility.

• iGaming: $2.12 billion, up 22.7%
• Land-based casinos: $2.21 billion, up 2.5%
• Sports betting: $798.5 million, down 4.4%

The figures indicate that New Jersey’s gambling market remains one of the strongest in the United States, though its growth is increasingly reliant on online activity. While iGaming continues to expand, driven by player convenience and broader platform choice, the sports betting market faces mounting competition and narrowing profit margins. Overall, September’s results illustrate a maturing industry—one that is stable but evolving, with digital platforms continuing to shape the future of gambling in the Garden State.