Monthly Gaming Roundup - April

Q1 of 2025 appeared fruitful for some of iGaming’s largest markets, with New Jersey, Michigan, and Pennsylvania setting record-breaking numbers again for the third month this year.

However, casino gaming softened in Nevada and New Jersey month over month. March gaming revenues in Nevada totaled $1.31 billion, a 1.5% decrease compared to February. In New Jersey, revenues were down 3.7% to $230.9 million. 

Industry watchers, including the PolicPro team, are curious how long this trend between iGaming, online sports betting, and casino gaming will last. 

Here is the latest in gaming:

Sports Betting

• In Nebraska, efforts to legalize online gaming advanced in the legislature with LR20CA clearing its first round of voting. The bill must clear two additional rounds of voting before being sent to voters on the November ballot. 

  
  

• The Commodity Futures Trading Commission (CFTC) canceled its roundtable discussion on prediction markets offering sports contracts with no new date scheduled.

Taxes & Revenue

• Pennsylvania joins two other states, New Jersey and Michigan, in posting record-breaking monthly iGaming revenues. Pennsylvania recorded $238.2 mil., New Jersey $ 243.9 mil., and Michigan $ 293.5 mil. in revenues for March. 

• According to a Stockton University poll released earlier this month, 58% of respondents were supportive of raising taxes on online gaming and sports betting as a way to raise revenue for the state. These figures align with Gov. Phil Murphy’s push to increase taxes on online gaming and sports betting operators to 25%. 

• North Carolina lawmakers' latest budget proposal aims to nearly double the state’s sports betting tax to 36%. 

iGaming

• On April 23, Pennsylvania officially became the sixth state to join the Multi-State Internet Gaming Agreement (MSIGA). This agreement will allow online poker players in Pennsylvania access to a broader pool of competitors across the five other member states (New Jersey, Nevada, Delaware, West Virginia, and Michigan). 

Casinos

• Las Vegas Sands released a statement on April 23 announcing the abandonment of its bid for one of the three potential downstate New York casinos. The company cited concerns over the potential development of iGaming in the Empire State to undermine its casino bid. 

• Bally’s filed an updated prospectus laying out details for an initial public offering (IPO) for its Chicago casino. This is Bally’s second IPO attempt for its Chicago subsidiary, after the first one was never approved by the Securities and Exchange Commission (SEC) and faced litigation related to its host agreements' diversity equity requirement. 

• The Nevada Gaming Control Board (NGCB) approved an $8.5 million fine against MGM Resorts on April 18 related to widespread charges surrounding the company’s anti-money laundering (AML) protocols.