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After an impressive 2024, New Jersey online casino revenue has finally begun to show signs of slowing, failing to set a monthly record in January for the first time in six months. The New Jersey Division of Gaming Enforcement reported that platforms produced $221.6 million in earnings last month.
The 28 New Jersey online casinos had posted five consecutive month-over-month increases, culminating in December, when they generated a combined $228.0 million.
Despite the slower month in January, the market is off to a faster start than it was at this point last year. Operators recorded a $183.3 million in January 2024, which is a 20.9% year-over-year increase.
As Atlantic City casinos are in the heart of the offseason, it couldn’t top the online vertical, posting only $210.1 million in January revenue.
iGaming operators top Atlantic City casinos for second time
PlayNJ predicted last month that New Jersey online casinos could finish ahead the retail vertical in Atlantic City at least once before the summer of 2025. For the second time ever, the online gambling topped Atlantic City casinos.
It’s not a surprising stat to see the retail casinos falter during the winter. However, it is eye-popping to witness the growth of online casinos, even in a down month.
Since the summer ended, the two verticals have been in lock-step with each other. In December, Atlantic City properties finished roughly $3 million ahead of online.
January essentially marks the half-way point of the offseason for Atlantic City casinos. Judging by the prior four months, online casinos can put the vertical at an arm’s length before the summer ensues.
Atlantic City retail properties are expected to lead the market once again in June, July and August.
Key takeaways from December revenue report
| Online casino | Total Revenue | Slots & Tables | Poker |
|---|---|---|---|
| FanDuel | $49,737,803 | $49,737,803 | $0 |
| DraftKings | $44,065,506 | $44,065,506 | $0 |
| BetMGM | $28,802,364 | $28,231,479 | $570,885 |
| Borgata | $21,913,097 | $21,478,387 | $434,710 |
| Caesars Palace | $14,782,385 | $14,782,385 | $0 |
| Hard Rock Bet | $12,509,890 | $12,509,890 | $0 |
| Golden Nugget | $10,545,222 | $10,545,222 | $0 |
| BetRivers | $8,144,635 | $8,144,635 | $0 |
| Bally | $3,570,804 | $3,570,804 | $0 |
| Fanatics | $3,515,354 | $3,515,354 | $0 |
| Tropicana | $2,717,250 | $2,717,250 | $0 |
| PlayStar | $2,408,356 | $2,408,356 | $0 |
| ESPN Bet | $2,324,268 | $2,324,268 | $0 |
| Ocean | $2,137,257 | $2,137,257 | $0 |
| PartyPoker | $1,936,035 | $1,695,858 | $240,177 |
| Resorts | $1,740,602 | $1,740,602 | $0 |
| Pala/Stardust | $1,412,374 | $1,412,374 | $0 |
| Jackpot City | $1,289,860 | $1,289,860 | $0 |
| Jackpocket | $1,276,401 | $1,276,401 | $0 |
| Monopoly | $1,158,545 | $1,158,545 | $0 |
| PokerStars | $1,091,429 | $340,510 | $750,919 |
| WSOP | $1,050,869 | $357,743 | $693,126 |
| Harrah's | $939,561 | $939,561 | $0 |
| Parx | $918,819 | $918,819 | $0 |
| Mohegan Sun | $913,436 | $913,436 | $0 |
| Wheel of Fortune | $855,125 | $855,125 | $0 |
| Betway | $754,597 | $754,597 | $0 |
| Bet365 | $(907,961) | $(907,961) | $0 |
| Total | $221,603,883 | $218,914,066 | $2,689,817 |
bet365 loses nearly $1 million
bet365 Casino lost almost $1 million in New Jersey last month, which is considered rather puzzling. The operator launched in neighboring state Pennsylvania over the summer, and has never went negative in a single month.
Even in the Garden State, bet365 has, at worst, put up modest numbers in the last four months:
- October: $1.6 million
- November: $1.6 million
- December: $1.8 million
- January: -$907,961
The operator announced a partnership with Evolution Gaming to beef up the live dealer section of its library. Bet365 added 26 more live dealer games, to bring the overall total to 33.
FanDuel cruises past DraftKings to start 2025
The two giants of iGaming fought neck and neck in 2024 as DraftKings edged out FanDuel. The former produced nearly $515 million to the latter’s $506.6 million.
However, to start 2025, FanDuel flexed its muscle early, producing $49.7 million to DraftKings’ $44.1 million. It’ll be interesting to see if FanDuel can keep pulling away from its rival.
Hard Rock Bet takes another leap
Hard Rock Bet has become a formidable operator in the Garden State. It has more than 2,500 unique games in its library, which is a big reason why for the revenue bumps over the last several months:
- September: $10.8 million
- October: $10.4 million
- November: $9.8 million
- December: $11.1 million
- January: $12.5 million
Hard Rock placed sixth in January revenue, which isn’t a bad place to be, considering the amount of platforms in the Garden State.
