New Jersey May 2025 Gaming Revenue: NJ iGaming Industry Reaches Another Milestone
New Jersey online casino revenue hits new record in May
It almost seems as if New Jersey's online casino operators set an all-time record every single month, but that's not quite true.
In December 2025, those operators took in $273.2 million in revenue, capping a $2.9 billion year that was a number 22% higher than in 2024.
In January, the number slipped to $258.9 million, followed by a 28-day February figure of $251.8 million. March's figure was $272.1 million - very close to the December record - while April brought the operators $263.1 million.
But according to figures announced recently by the state Division of Gaming Enforcement, in May the operators took in yet another new record $276.3 million.
The industry is up 14.4% for the year to $1.32 billion, virtually locking in yet another double-digit year of record revenue.
In calendar year 2019 - a year before the COVID-19 pandemic further raised awareness among New Jersey - the operators took in just $482.7 million. Yet even that number was up more than 60% over the previous year.
In 2025, the number was $2.9 billion - so in 2026, the pace is for well over $3 billion.
Winners and losers in NJ iGaming in May
Last year, the NJDGE began listing individual breakdowns of each online casino app, rather than just lumping together in by who the identity of their Atlantic City brick-and-mortar casino partner.
There are 27 legal, regulated iGaming options in New Jersey - nine of whom took in $10 million or more in revenue in May.
The leader once again was FanDuel, at $64 million in May and $302.5 million for the year. FanDuel's jump of almost 20% so far in 2026 has enabled them to pull away from their No. 2 archrivals in daily fantasy sports and sports betting as well as iGaming.
No. 2 checked in at $47 million in May and $231 million for the year so far - both numbers being nearly identical to 2025.
Meanwhile another major sportsbook app stole No. 3 slot, with $34.6 million in revenue in May and $166.7 million for the first five months of the year.
The Borgata and Caesars Palace brands have maintained their No. 4 and No. 5 positions, but Hard Rock Bet is coming on strong. The trio all were between $18 million and $23 million for May, and between $89 million and $108 million for the year.
Rounding out the $10 million-plus club in May were BetRivers, BetFanatics, and Golden Nugget - with BetFanatics the only one of the 27 apps to more than double its revenue compared to May 2025.
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Atlantic City casino revenue fell flat in May 2026
A tiny 0.1% increase in revenue for the nine Atlantic City casinos in May versus the previous May has left the industry up just 3% overall in 2026.
Borgata's $72.9 million in revenue so far in 2025 clearly indicates it will "win" the revenue contest yet again in 2026.
But second place might just be up for grabs. Ocean Casino, the eight-year-old property on the Boardwalk, is up an industry-best 10.7% for the year. That $46.8 million in revenue leaves the property within striking distance of its fellow eight-year-old casino, Hard Rock ($49.9 million).
Bally's, which had to settle for last place in 2025, was up 22.6% in May and now has slipped past Golden Nugget for eighth place in 2026 at $12.6 million to $12.3 million.
With a strong summer and fall, it's conceivable that Bally's could challenge any or all out of Golden Nugget, Resorts, Harrah's, and Tropicana by the end of the year.
Rough month for New Jersey sportsbooks
Mobile sportsbooks in the state combined for nearly a 15% drop in revenue in May 2026 compared to May 2025. The lowest "hold rate" of the major sports was 4.1% for basketball, which likely reflects a betting public enticed by the first segment of the New York Knicks' drive to the team's first NBA championship in 53 years.
That playoff run also could negatively impact the June numbers, although a strong performance on World Cup soccer betting could fully counteract that trend.
FanDuel also has the edge in this category over its main competitor, in this case $181.6 million to $117.6 million for the year.
But both powers declined by more than 20% in May, accounting for the bulk of that overall decline.
The largest change among the 16 sportsbooks for the month was seen by a single sportsbook, which rose from a remarkable $1.5 million in May 2025 to $6.1 million in May 2026.
Beyond the top two, there is now a clear second tier of New Jersey sportsbooks forming, although all revenue numbers of the next sportsbooks in line combined still is lower than No. 2.
At the bottom is the Ocean Casino-affiliated Prime Sportsbook, which is disproving the old adage that "sportsbooks never lose money."
For the year, that sportsbook has lost just over $250,000 - after winning slightly less than that amount in 2025.
