KEY TAKEAWAYS
Key Numbers
Pennsylvania and New Jersey both reported record or near-record gaming revenue for 2025, and both reported growth of about 11% over 2024. WagerFacts’ analysis of the two regulators’ figures asks a narrower question: which categories of gambling produced that growth, and how would each state have grown without internet gaming?
In Pennsylvania, internet gaming (called iGaming by the regulator) added $593,885,080 to revenue, about 90.1% of the state’s $659,122,665 total increase. In New Jersey, internet gaming win added $524,077,146, about 76.7% of the $683,247,941 increase.
Excluding internet gaming, retail casino and sports wagering revenue grew 1.7% in Pennsylvania and 4.1% in New Jersey. All amounts are in U.S. dollars for calendar year 2025 against calendar year 2024, and all calculations are reproducible from the published figures listed in the methodology.
The Question and the Data
Headline revenue growth can hide very different stories. A state whose total rises 10% might be growing evenly across casinos, sports betting and online play, or might be growing in one category while the others stand still. Because the two regulators publish category-level totals for the same calendar years, the contribution of each category to total growth can be calculated directly, without estimates.
The Pennsylvania Gaming Control Board reports a combined revenue figure made up of slot machines, table games, sports wagering, iGaming, video gaming terminals and fantasy contests. The New Jersey Division of Gaming Enforcement reports total gaming revenue made up of casino win, internet gaming win and sports wagering revenue. This analysis aligns the categories that both states report: internet gaming, retail casino (slots plus tables), and sports wagering. Pennsylvania’s video gaming terminals and fantasy contests, which have no counterpart in New Jersey’s report, are shown separately and are small.
Revenue here is the figure each regulator reports after winnings, not the amount wagered and not profit. The two states define revenue in their own ways, so this page compares growth and shares within each state and does not rank the states’ revenue levels against each other.
Revenue by Category in Each State
Table 1 gives the Pennsylvania Gaming Control Board’s 2025 and 2024 category totals as published in its January 2026 release.
| Category | 2025 | 2024 | Change |
|---|---|---|---|
| Slot machines (retail) | $2,432,109,649 | $2,447,354,419 | −0.62% |
| Table games (retail) | $925,406,724 | $937,153,860 | −1.25% |
| iGaming | $2,775,554,529 | $2,181,669,449 | +27.22% |
| Sports wagering | $602,495,582 | $510,716,858 | +17.97% |
| Video gaming terminals | $41,478,466 | $41,525,888 | −0.11% |
| Fantasy contests | $19,166,770 | $18,668,580 | +2.67% |
| Combined revenue (as reported) | $6,796,211,719 | $6,137,089,054 | +10.74% |
Pennsylvania’s combined revenue rose 10.74% to $6,796,211,719, but the increase came from only two categories. iGaming rose 27.22% and sports wagering 17.97%, while slot machine revenue fell 0.62% and table games 1.25%.
Table 2 gives the New Jersey figures from the Division’s December 2025 release.
| Category | 2025 | 2024 | Change |
|---|---|---|---|
| Casino win (slots and tables) | $2,894,141,795 | $2,817,506,790 | +2.7% |
| Internet gaming win | $2,911,241,318 | $2,387,164,172 | +22.0% |
| Sports wagering revenue | $1,177,166,130 | $1,094,630,340 | +7.5% |
| Total gaming revenue | $6,982,549,243 | $6,299,301,302 | +10.8% |
New Jersey’s total rose 10.8% to $6,982,549,243, with internet gaming win up 22.0%, sports wagering revenue up 7.5% and casino win up 2.7%.
Where the Growth Came From
The contribution of a category to growth is its dollar change divided by the total dollar change. Table 3 applies this to each state.
where: category and total are the same measures in Tables 1 and 2. For Pennsylvania internet gaming, ($2,775,554,529 − $2,181,669,449) ÷ ($6,796,211,719 − $6,137,089,054) gives $593,885,080 ÷ $659,122,665, or 90.1%.
| Vertical | PA change ($) | PA share of increase | NJ change ($) | NJ share of increase |
|---|---|---|---|---|
| Internet gaming | +$593,885,080 | 90.1% | +$524,077,146 | 76.7% |
| Retail casino (slots and tables) | −$26,991,906 | −4.1% | +$76,635,005 | 11.2% |
| Sports wagering | +$91,778,724 | 13.9% | +$82,535,790 | 12.1% |
| Other (PA video gaming terminals and fantasy) | +$450,768 | 0.1% | n/a | n/a |
| Total increase | +$659,122,665 | 100% | +$683,247,941 | 100% |
Internet gaming supplied 90.1% of Pennsylvania’s increase and 76.7% of New Jersey’s. Pennsylvania’s retail slots and tables together fell by $26,991,906, so they subtracted 4.1% from the net increase, while New Jersey’s casino win added 11.2%. Sports wagering contributed 13.9% in Pennsylvania and 12.1% in New Jersey, close to each other even though Pennsylvania’s sports revenue grew faster in percentage terms (17.97% against 7.5%), because New Jersey’s sports revenue base is larger relative to its total.
The shares in each column add to 100% because the categories sum to the reported totals; the Pennsylvania categories sum to $6,796,211,720, one dollar more than the reported combined revenue, which is attributed to rounding in the source.
Growth Without Internet Gaming
A second way to see the same result is to remove internet gaming and measure what is left. Table 4 adds retail casino and sports wagering in each state, leaving out Pennsylvania’s video gaming terminals and fantasy contests so that the two states cover the same categories.
| Area | 2025 | 2024 | Change |
|---|---|---|---|
| Pennsylvania | $3,960,011,955 | $3,895,225,137 | +1.7% |
| New Jersey | $4,071,307,925 | $3,912,137,130 | +4.1% |
| Combined | $8,031,319,880 | $7,807,362,267 | +2.9% |
where: retail casino is slots plus tables in Pennsylvania and casino win in New Jersey, and sports is each state’s sports wagering revenue. Pennsylvania’s figure rose from $3,895,225,137 to $3,960,011,955, or 1.7%; New Jersey’s rose from $3,912,137,130 to $4,071,307,925, or 4.1%; the two together rose 2.9%. Without internet gaming, neither state would have approached 11% growth.
Table 5 shows internet gaming itself.
| Area | 2025 | 2024 | Change | Share of 2025 total revenue |
|---|---|---|---|---|
| Pennsylvania | $2,775,554,529 | $2,181,669,449 | +27.2% | 40.8% |
| New Jersey | $2,911,241,318 | $2,387,164,172 | +22.0% | 41.7% |
| Combined | $5,686,795,847 | $4,568,833,621 | +24.5% | 41.3% |
Internet gaming made up about 41.3% of the two states’ combined 2025 total revenue of $13,778,760,962, up from about 36.7% of the combined 2024 total of $12,436,390,356. It also supplied about 83.3% of the combined $1,342,370,606 increase. This page does not explain why internet gaming grew; the regulators’ releases report the amounts, and no cause is tested here.
Methodology & Limitations
Datasets: the Pennsylvania Gaming Control Board’s January 21, 2026 release on 2025 gaming revenue, which gives 2025 and 2024 totals by category, and the New Jersey Division of Gaming Enforcement’s January 16, 2026 release on December 2025 gaming revenue, which gives year-to-date 2025 and 2024 totals by category. Both were accessed in October 2026. All inputs are copied from these documents.
Steps: (1) record each state’s category totals for 2025 and 2024; (2) map categories to three shared verticals, with Pennsylvania’s slots and tables summed to match New Jersey’s casino win, and Pennsylvania’s video gaming terminals and fantasy contests set aside as a separate line; (3) calculate each vertical’s dollar change; (4) divide each change by the state’s total change to obtain its contribution to growth; (5) add retail casino and sports for each year, and calculate percent growth with and without internet gaming; (6) add the two states’ figures for the combined results and recompute the percentages from the sums, not by averaging the states’ percentages. Every number in the tables can be reproduced with these steps and the inputs in Tables 1 and 2.
Limitations: the states define revenue differently, and Pennsylvania’s sports wagering total includes retail and online while New Jersey reports online sportsbook and lounge revenue, so the comparison is of growth and mix, not of levels. The analysis covers two states and one year, so it cannot show a long-term trend or generalize to other states. It describes arithmetic contributions, not causes. Figures are as reported in January 2026 and may be revised by the regulators. Taxes, handle and prior years beyond 2024 are not analyzed.
Key Figures at a Glance
| Result | Value | Period |
|---|---|---|
| PA share of revenue growth from internet gaming | 90.1% | 2025 vs 2024 |
| NJ share of revenue growth from internet gaming | 76.7% | 2025 vs 2024 |
| PA growth excluding internet gaming (retail casino and sports) | +1.7% | 2025 vs 2024 |
| NJ growth excluding internet gaming (casino and sports) | +4.1% | 2025 vs 2024 |
| Combined internet gaming revenue | $5,686,795,847 (+24.5%) | Calendar year 2025 |
| Combined total revenue as reported | $13,778,760,962 (+10.8%) | Calendar year 2025 |
All results are calculated from the two regulators’ published category totals using the formulas shown above.
Related Data
Pennsylvania’s revenue by type is profiled in Pennsylvania gambling revenue by type and New Jersey’s in New Jersey gambling data: 2025 revenue and taxes. A related comparison of online casino revenue relative to population is in online casino revenue per resident.
Frequently Asked Questions
