Economic Prospects
In the bustling state of New Jersey, the gambling industry has shown a significant surge in revenue for the month of July 2025. The total gambling revenue reached an impressive $3.92 billion for the first seven months of the year, marking an 8.8% increase compared to the same period in 2024.
The growth was particularly noticeable in the online gambling segment. Leading companies in this monthly online gaming segment experienced a combined revenue growth of 10.7%, albeit without specific individual earnings and company names detailed in available sources. Notable performers included FanDuel and Golden Nugget, who saw a 37.8% revenue increase, totaling $52.1 million, and BetFanatics and Bally's, who posted a staggering 200.2% revenue increase, totaling $8 million.
Casino revenue also rose modestly, up 2.2% year-on-year to $1.66 billion. Land-based casino revenue grew to $284.1 million, a 4.3% increase, while slots contributed $212.9 million, a 2.7% increase. Table games also saw a rise, with revenues up 9.7% to $71.3 million.
However, traditional sports betting showed signs of volatility. Sports wagering revenue experienced a 6.6% decline, falling to $74.8 million. Retail sportsbooks recorded a net loss of $680,018 compared to $2.1 million in profit in July 2024. Retail sports betting revenue at racetracks dropped 63.5% to $434,608. The only segment to decline, sports betting was down 4% to $626.8 million. Despite this, it generated $14.9 million in taxes.
The bright spot in the sports betting sector was online sports betting, which accounted for $630.9 million of the total betting handle, edging up 1.8%. Operators held 11.27% of the money wagered. Notable performers in this sector included BetMGM and Borgata, who posted a 24.3% revenue increase, totaling $31.4 million, and DraftKings and Resorts World, who had a 16.8% revenue increase, totaling $48.6 million.
The July figures highlight how online gambling continues to drive New Jersey's growth, even as traditional sports betting shows signs of volatility. Casinos generated a total of $17.9 million in taxes, with iGaming contributing the largest share at $48.9 million. Retail betting contributed only $86,248 in taxes. The state collected a total of $81.7 million in gambling-related taxes in July.
In conclusion, the gambling industry in New Jersey is thriving, with online gambling leading the charge. Despite some volatility in traditional sports betting, the industry remains a significant contributor to the state's economy, generating millions in taxes and driving overall revenue growth.
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