The New Jersey Division of Gaming Enforcement reported gaming revenue of $581.6 million in June, an 18.4% increase from June of 2024. Much of that revenue was derived from land-based casinos, but an uptick in iGaming and sports betting revenue also contributed to the increase.
Gaming Revenue Trending Up
Casino revenue for the Boardwalk’s nine casino hotels was $259 million in June, an increase of 6.1% over the $244.1 million reported for last June. Internet gaming revenue soared to $230.7 million, a 23.5% increase over the previous June, while sports betting was up a staggering 52.9% compared to last June, a jump to nearly $92 million for the month.
Jane Bokunewicz, director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism at Stockton University, reviewed the data and said, “June’s 6% year-over-year increase is an encouraging sign for Atlantic City’s casino operators, especially since there was one less Saturday in the month this year compared to 2024. The increase continues the momentum of May’s nearly 11% year-over-year increase in total (brick-and-mortar) casino win.”
Seasonal Surge Brings Momentum into Peak Months
Despite the year’s initial challenges, the arrival of the summer season and the surge in gaming in Atlantic City indicate promising growth during the peak tourism season.
“The positive revenue growth in brick-and-mortar win, so far this summer, has offset revenue declines in the first quarter, resulting in a tailwind of a 1.7% year-over-year increase year to date heading into the peak summer tourism season,” Bokunewicz added.
In-Person Casino Gaming Remains NJ’s Core
It was a positive gaming month for the Garden State, but its bread and butter continues to be in-person gaming generated from the state’s nine resort casinos located on the Boardwalk in Atlantic City. This is a good sign considering the trepidation regarding online casino gambling in the state, which some believed would cannibalize the in-person foot traffic at Boardwalk casinos.
Casino Control Commission Chairman James T. Plousis said, “A recent industry observation outlined the many efforts and successes in town despite some economic challenges and how significant capital investments at the casinos and a strong marketing campaign have combined for a positive outlook going into the summer months. Clearly, the Atlantic City gaming industry remains not only a very powerful economic engine but also a significant contributor to New Jersey’s programs benefitting senior citizens and the disabled.”
Gaming Tax Increase
New Jersey Governor Phil Murphy was lobbying for an increase to 25% on gaming revenue, but the legislature won a victory for a more moderate increase. Online casino gambling was taxed at 15% of its revenues, while sports betting was taxed at a rate of 13%, but both have been increased to 19.75% as of July 1st.
Naturally, there was pushback from the gaming industry, with customers of BetMGM receiving the following email that stated in part, “A tax hike will have a MAJOR impact on your favorite online games, putting promotional offers and the best odds at risk.”
Lawmakers Aim to Protect State Surplus
However, the tax rate increase is projected to generate an additional $300 million this fiscal year, and the state currently has a $6 billion surplus that the lawmakers intend to protect when the next governor is elected after Governor Murphy steps down due to term limits.
“Anytime you ask someone to kick in a little more, I know it’s a difficult ask,” said Senator Paul Sarlo, the chairman of the Senate Budget Committee. “We worked with our racetracks and casinos to come up with something better than the governor’s budget.
“This is part of the budget agreement, part of the governor’s commitment to maintain a $6 billion surplus for the next administration,” Sarlo said.
Looking Ahead
As New Jersey gaming continues to grow across both online and in-person channels, new tax policies and summer tourism will shape the state’s fiscal outlook. Whether you’re an industry watcher or a casual bettor, expect more headlines out of Atlantic City before the season’s end.
