New Jersey September iGaming Revenue Among Top Five Ever — But Hints At Growth Finally Slowing

The New Jersey Division of Gaming Enforcement reported on Friday $243.1 million in online casino revenue win for September, a top-five all-time figure that also showed some slowing year-over-year growth.

It was the fifth time this year internet casino revenue surpassed $240 million, as Garden State platforms continued their flirtation with the still-unreached $250 million plateau. September’s figure represented a 16.8% increase from last year but also ended a six-month run of year-over-year growth in New Jersey being 23% or better. The only month this year with a lower increase was February, which was 14%.

September also pushed the year-to-date revenue total past $2 billion, with the $2.12 billion overall haul when including online poker up 22.7% compared to the first nine months of 2024.

The state collected $48.3 million in tax receipts, completing the first quarter of Fiscal Year 2026 with $146.2 million thanks to the new 19.75% rate that took effect July 1. That is $55.9 million more than last year, when revenue was taxed at 15%.

Overall gaming revenue from Atlantic City casinos, sports wagering, and iGaming totaled $563.7 million, an increase of 1% compared to last year. A 24.9% decline in sports betting revenue to $89.8 million wiped out almost all the year-over-year gains in online casino winnings as Atlantic City revenue was nearly flat at $230.7 million.

Golden Nugget opens the promotional war chest

FanDuel Casino continues to be a cut above among online casino operators for revenue. It led all platforms in September with $56.6 million in revenue, an increase of 24.9% from last year, as it represented the bulk of tether Golden Nugget’s overall $74.9 million in winnings.

The NJDGE provides line-item combined promotional spend for all its online platform monthly tax returns by casino licensee, and Golden Nugget reported a whopping $19.6 million outlay that constitutes more than 20% of its $90.2 million spend for the year. Its previous high was $10.4 million in May. September is a month marked by aggressive promotional spend as operators look to cross-promote online casino play with mobile sports betting.

Golden Nugget’s internal platform put some of that spend to good use as its $9.3 million in winnings was a 4.6% increase from September 2024. BetRivers slotted directly behind at eighth overall with a 20.7% increase in revenue to $8 million-plus.

DraftKings again fell short of cresting $50 million since its only occurrence last December, though the $48.4 million in revenue for the linchpin of Resorts’ platforms represented a 5.7% uptick.

BetMGM narrowly extended its run of months with $30 million in winnings to five, topping the benchmark by less than $307,000 in securing the last podium spot. The Borgata made it 10 months in the last 11 with $20 million or higher in winnings at $20.7 million. BetMGM also showed the better year-over-year growth for the two Borgata-tethered platforms at 16.5% versus 8.5%.

Caesars Palace Online ($17.8 million) and Hard Rock ($14.1 million) rounded out the group of seven with at least $10 million in revenue for September. The 42.2% surge in revenue by Caesars was the highest year-over-year gain in percentage among the group of seven, and it topped $300 million in winnings since the start of last year,

Hard Rock eclipsed its previous monthly high of $13.5 million set in June and reported a 30.7% rise in revenue year-over-year. Its other platform under the Hard Rock casino license, bet365, also reported a monthly all-time revenue high at $2.6 million.

Frenetic Fanatics

While most online casino operators operate in a narrow band of revenue totals, Fanatics again bucked that trend. The platform went from $6.2 million in winnings in May to $3.6 million in June before vaulting to its current record of $12.4 million in July.

After a fall-off in August to $10 million, September’s figure was barely half that at $5.1 million. The good news is it was still 86.8% higher than last year and tops among Bally’s three online casino platforms.