New Jersey online casinos have recovered from the slow start to the year, and that’s putting it mildly. The New Jersey Division of Gaming Enforcement (DGE) reported on Wednesday that online casinos produced $243.9 million in earnings last month, well beyond expectations.
March’s total shatters the previous record, held in December 2024 when operators recorded $228.0 million in revenue. The month of March has always been a fruitful one for markets across the country.
Talks of slowing growth silenced
There was potential that the first two months of 2025 indicated that the iGaming industry was starting to slow. However, March’s total silenced those talks, at least for the time being.
The peak of the market came in December, the last time New Jersey online casinos set a revenue record. In the following months, platforms posted the following totals:
- January: $221.6 million
- February: $207.8 million
The big bump from February represented a 17.4% month-over-month increase. The market grew 23.7% from March 2024.
Since the beginning of 2024, New Jersey has been the third iGaming market behind Pennsylvania and Michigan, respectively. Those states haven’t March disclosed revenue, yet. The Garden State has certainly set the bar high, and also quieted doubts of a declining market.
Key takeaways from March revenue report
| Online casino | Total Revenue | Slots & Tables | Poker |
|---|---|---|---|
| FanDuel | $52,250,884 | $52,250,884 | $--- |
| DraftKings | $49,554,400 | $49,518,371 | $36,029 |
| BetMGM | $31,608,638 | $31,139,962 | $468,676 |
| Borgata | $22,421,097 | $22,015,258 | $405,839 |
| Caesars Palace | $15,712,737 | $15,712,737 | $--- |
| Golden Nugget | $11,964,893 | $11,964,893 | $--- |
| Hard Rock Bet | $11,833,321 | $11,833,321 | $--- |
| BetRivers | $8,299,477 | $8,299,477 | $--- |
| Bally | $5,810,046 | $5,810,046 | $--- |
| Fanatics | $5,305,930 | $5,305,930 | $--- |
| ESPN Bet | $2,793,495 | $2,793,495 | $--- |
| PlayStar | $2,640,996 | $2,640,996 | $--- |
| Tropicana | $2,485,252 | $2,485,252 | $--- |
| Bet365 | $2,463,033 | $2,463,033 | $--- |
| Ocean | $1,982,606 | $1,982,606 | $--- |
| PartyPoker | $1,888,153 | $1,692,216 | $195,937 |
| Resorts | $1,803,262 | $1,803,262 | $--- |
| Parx | $1,697,411 | $1,697,411 | $--- |
| Jackpot City | $1,198,636 | $1,198,636 | $--- |
| Monopoly | $1,188,735 | $1,188,735 | $--- |
| Jackpocket | $1,457,286 | $1,457,286 | $--- |
| Pala/Stardust | $1,429,891 | $1,429,891 | $--- |
| WSOP | $1,228,531 | $460,377 | $768,154 |
| Mohegan Sun | $1,181,006 | $1,181,006 | $--- |
| PokerStars | $1,141,509 | $447,187 | $694,322 |
| Harrah's | $1,025,028 | $1,025,028 | $--- |
| Wheel of Fortune | $778,370 | $778,370 | $--- |
| Spin Palace | $744,361 | $744,361 | $--- |
| Total | $243,888,984 | $241,320,027 | $2,568,957 |
Bet365 continues ascension
Bet365 Casino had lost money in January, but has been climbing the ranks ever since. During that disastrous month, the operator lost nearly $1 million.
Bet365 recovered nicely in February and even built on its success in March. Over the last several months, it has produced the following results:
- October: $1.6 million
- November: $1.6 million
- December: $1.8 million
- January: -$907,961
- February: $1.9 million
- March: $2.5 million
Bet365 has become a bigger player in the neighboring Pennsylvania market. Perhaps the popularity is trickling over into the Garden State, too.
Fanatics closing in on being top 10 operator
Like bet365, Fanatics Casino is also making a case as a top platform in New Jersey. The operator produced an all-time high of $5.3 million in March.
December and January saw Fanatics generate $3.5 million in each month. February resulted in a jump to $4.5 million. The operator grew crossed the $5 million threshold last month.
Fanatics came around $300,000 of finishing in the top 10 of revenue among all New Jersey operators. Should Fanatics ever get there, it would be quite a feat considering it’s one of the newer gambling companies in the market.
DraftKings debuts Electric Poker
launched its Electric Poker game in New Jersey back in the middle of March. Early returns saw the title produce $36,039 in more than half of the month live.
Electric Poker is by no means going to light the world on fire. However, it’s another option to give players a chance to play in quick poker games with lower buy-ins from $1 to $25.
Given a full month of action, the game is on pace to generate between $75,000 to $100,000 in a given month.
