New Jersey Furthers Online Casino Revenue Record To $246.8 Million For May

The New Jersey Division of Gaming Enforcement (NJDGE) reported a record $246.8 million in adjusted gross online casino revenue for May on Monday, the second time this year operators established an all-time high.

The previous record of $243.9 million was set in March. It was also part of a huge windfall across all three regulated gaming verticals as combined gaming revenue in the Garden State for May totaled $614.7 million, up 20.5% from last year.

May's online casino revenue figure represented a year-over-year increase of 28.5% and marked the ninth consecutive month with more than $200 million in operator winnings. It was the fourth time in 2025 that year-over-year revenue increased by at least 20%, and May's surge is the highest such increase.

The $1.16 billion in online casino revenue for the first five months of 2025 is up 22.5% compared to last year. The $212.5 million increase is roughly equivalent to a month's worth of operator winnings. The state collected $37.1 million in tax receipts from that vertical for May, and the $173 million inflow for the calendar year is running $31.3 million ahead of 2024.

FanDuel-Golden Nugget reach all-time high

FanDuel continues to be the top revenue generator among online casino platforms, setting an all-time individual high in the state for the third straight month at $54.4 million. That was a 36.1% year-over-year increase as FanDuel went from trailing eternal rival DraftKings by $2.2 million to leading by $6.4 million.

FanDuel accounted for the bulk of revenue for licensee Golden Nugget, which became the first in the state to surpass $75 million in combined monthly winnings at $75.6 million. Its internal platform also reached eight figures at $10.7 million — Golden Nugget's second-best month since the NJDGE began providing operator figures last year. BetRivers chipped in the bulk of the remaining $10.5 million among the other three operator platforms with $8.1 million.

DraftKings was a clear-cut second at $48.1 million, but its 13.8% increase from May 2024 was the lowest among the top seven revenue generators. It was DraftKings' third-highest monthly revenue total overall behind the $51.3 million claimed in December and $49.6 million for March. Overall, the five platforms under the Resorts Digital license totaled $55.1 million in winnings — an increase of 11.9%.

BetMGM took the final podium spot with an all-time high of $32.5 million, nearly $900,000 above its previous best set in March. It was also a year-over-year increase of 42.7% in moving above $150 million in year-to-date winnings.

The best of the rest

Overall, there were seven online casino platforms that generated at least $10 million in revenue for May. The Borgata's internal platform extended its run of months with $20 million-plus revenue to seven, with the $20.8 million haul up 15.1% from last year. As a licensee, the Borgata had its second-best month of revenue with $57.1 million as winnings increased 29.8%.

Caesars Palace Online was another platform with a record haul at just shy of $18 million, a 45.2% bounce from 12 months prior. Despite a 22% drop in revenue by Tropicana, the total licensee revenue of $21.7 million for the Tropicana was still enough for an all-time high.

Hard Rock also reported a record monthly revenue total of $13.1 million as winnings surged 45.7% from last year. The $2.1 million contributed by bet365 under the licensee umbrella gave Hard Rock a record $15.2 million as a licensee.

Online revenue still ahead of Atlantic City

May's monster revenue number included a 10.9% surge in winnings by Atlantic City casinos to $265.3 million as it reclaimed the top revenue spot based on gaming verticals. It was also a $42.7 million revenue swing from April when the $235.1 million reported by online operators was $24.2 million higher.

Despite the bounce-back on the Boardwalk, online operators have a slight lead on their retail counterparts in year-to-date revenue. Atlantic City venues moved into the positive in terms of year-over-year growth for year-to-date figures, with the $1.12 billion representing growth of 0.8%.