DraftKings’ New Jersey online casino revenue barely grew in the third quarter even as the state market expanded sharply, reducing the operator’s share to about 17.9% from 19.5% a year earlier.
The company generated $144.9 million in New Jersey casino revenue from July through September, a 0.5% increase on the $144.2 million recorded in the same quarter of 2025. The statewide online casino market, by comparison, rose 9.8% to $811 million. The market-share calculations were based on New Jersey Division of Gaming Enforcement data.
July revenue fell 1.2% year on year to $48.1 million, followed by a 7.5% decline in August to $43.5 million. September provided a stronger finish, reaching $53.3 million, up 9.9% from a year earlier and 22.3% from August.
DraftKings remained the state’s second-largest individual online casino brand in each month of the quarter. FanDuel led with $176.2 million in quarterly revenue, about $31.3 million more than DraftKings, while BetMGM, reported separately from Borgata, generated $105.1 million. BetMGM’s 11.4% growth narrowed the gap with DraftKings to $39.8 million, from $49.9 million a year earlier.
Through September, DraftKings generated $423 million in New Jersey casino revenue, up 0.8% from the first nine months of 2025. That lagged the 13.2% increase in statewide internet gaming revenue, which reached $2.40 billion over the same period.
The weaker New Jersey growth came as DraftKings increased spending on casino marketing and promotions. In its third-quarter earnings document, the company said iGaming customer acquisition increased 76% year on year, while gross iGaming revenue rose 7% and net revenue rose 2% as it invested in promotions for new customers.
DraftKings said its multi-quarter iGaming plan included a revamped product offering, exclusive content such as the Cashingo franchise, and new rewards and merchandising. It stepped up marketing and new-customer promotional investment during the third quarter and into the fourth quarter after seeing what it described as strong early returns.
October gross casino revenue growth accelerated to 12% year on year, while paid active days rose 24%. The company defines paid active days as active customers multiplied by the days they used the app, and said it expected its casino investments to accelerate revenue growth in 2027.
