New Jersey Revenue Gap Between Online And Live Casino Wider Than Ever In April
Internet casino revenue checks in at $235.2 million, second highest in state history
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Online casino operators in New Jersey sustained most of their momentum from a record-setting March as they totaled $235.2 million in adjusted gross iGaming revenue for April, according to figures released Friday by the state’s Division of Gaming Enforcement.
Revenue surged 25.2% from April 2024, an increase of $47.3 million in terms of dollars. April’s figure trailed only March’s haul of $243.9 million in Garden State history, and it was the eighth consecutive month operator winnings topped $200 million.
Year-over-year revenue has increased by at least 14% in each month of 2025. The $908.4 million won by the house through the first four months of the year is running 21% above last year’s pace.
The $35.3 million in state taxes remitted by iGaming operators represented the largest chunk of the $59.8 million in overall gaming taxes directed to New Jersey coffers for the month. The dramatic iGaming growth also continues to provide fodder for lawmakers who ponder Gov. Phil Murphy’s ask to raise the tax rate on iCasino and mobile sports betting to 25%.
The Atlantic City divide grows wider
The consistent double-digit growth of internet casino revenue presents a stark contrast to brick-and-mortar venues in Atlantic City. The nearly-$211 million won by the nine casinos was down 2.7% versus April 2024, and the $855.4 million won in 2025 so far is 2% lower compared to last year.
The gap between the two verticals grew notably for the second straight month after near parity in the shortened month of February. The $24.2 million that separated iGaming operators and Atlantic City counterparts in April was the largest in state history and the third time in 2025 it was $11.5 million or higher.
| Month | Internet Casino Revenue | Year-over-Year Change % | Atlantic City Casino Revenue | Year-over-Year Change % | Difference in Dollars |
| January | $221,603,883 | 20.9% | $210,057,707 | 2.6% | $11,546,176 |
| February | $207,776,215 | 14.0% | $203,473,581 | (3.8%) | $4,302,634 |
| March | $243,888,484 | 23.7% | $230,892,371 | (3.7%) | $12,996,113 |
| April | $235,152,883 | 25.2% | $210,962,788 | (2.7%) | $24,190,095 |
| YTD TOTALS | $908,421,965 | 21.0% | $855,386,447 | (2.0%) | $53,035,518 |
The top nine iGaming revenue generators all had top-five monthly figures in April, though that is still a relatively small sample size of 16 months dating to January 2024 when the NJDGE began breaking out revenue totals by operator. FanDuel Casino furthered its monthly state record to $52.9 million, an increase of 35.3% compared to April 2024.
DraftKings was second at $46.9 million, losing ground to its eternal rival despite a 19.5% bump in winnings that ranks second in its annals. BetMGM again claimed the final podium spot at $29.6 million, also its second-best figure and a year-over-year jump of 27.9%.
The Borgata’s internal online skin rounded ($20.7 million) rounded out the quartet of operators to clear $20 million in April, while Caesars Palace ($15.9 million) and Hard Rock ($11.5 million) completed the group to reach eight figures. Golden Nugget Online finished about $35,000 shy of $10 million, but still had its fourth-best month.
Fanatics Casino was the other record-setter in April at $7.4 million, a 38.7% increase from March. It completed its first 12 months of iGaming operations in New Jersey with $43 million in revenue and set monthly highs each of the last three months.
New Jersey operators continued to aggressively seek business in April: The nearly $21 million in promotional credits from licensees who itemized their spend was the second-highest in state history and up 30.8% compared to last year.
Harder to find gains on the Boardwalk
A rough month on the felt contributed to April’s woes as only three of Atlantic City’s nine casinos posted overall year-over-year revenue gains. The $48.8 million in total table games win was down 16% from last year, and Hard Rock was the only location to emerge unscathed. Its $13.1 million in winnings was up 9.8% from 12 months prior.
That has been the story writ large when it comes to Atlantic City for table games in 2025. Year-to-date revenue is down 7.4% to $222.1 million, and Hard Rock is the lone operator in the black from the likes of craps, roulette, and blackjack with a 6% uptick to $52.6 million.
Harrah’s has the best year-to-date revenue growth at a paltry 1.7%, followed by Hard Rock (1.2%) and Borgata (0.5%). Three casinos — Bally’s, Caesars, and Golden Nugget — all have seen revenue dip 11% or more compared to the first four months of 2024.
