N.J. gaming revenue hits record $6.98B in 2025 as online betting overtakes physical casinos

New Jersey’s gaming industry reached a historic milestone in 2025, fueled by a massive surge in online betting and sports wagering that offset a cooling brick-and-mortar market.

According to data released Friday by the New Jersey Division of Gaming Enforcement (DGE), total gaming revenue for the year hit $6.98 billion, a 10.8% increase over the $6.30 billion reported in 2024.

For the first time in state history, Internet Gaming Win eclipsed traditional “Casino Win” (physical slot and table revenue) for the full year.

• Internet Gaming: Generated $2.91 billion in 2025, a 22% jump from the previous year.

• Brick-and-Mortar: Earned $2.89 billion, a modest 2.7% annual increase.

The shift was even more pronounced in December. While physical casino revenue dropped 6.7% to $216.1 million—blamed largely on winter weather and a mid-week New Year’s Eve—online gaming soared 19.8% to $273.2 million.

Sports betting finished the year on a high note, recording $116.3 million in revenue for December alone—an 85% increase over December 2024. For the full year, sports wagering brought in $1.18 billion, up 7.5% from 2024.

Jane Bokunewicz, director of Stockton University’s Levenson Institute (LIGHT), noted that while the total revenue numbers are record-breaking, they mask significant challenges for Atlantic City’s nine casino operators.

“Annual brick-and-mortar gaming revenue has remained essentially flat since 2022,” Bokunewicz said. “In 2021, [online gaming and sports wagering] represented 40% of total revenues… four years later they now represent 55%.”

Bokunewicz warned that the news is “bittersweet,” as operators continue to battle rising labor costs and inflation. While top-line revenue is up, the industry’s actual profitability won’t be clear until gross operating profits are reported this spring.