Timo Meier scored, and Jake Allen made 28 saves for the Devils (28-28-2), who have lost four in a row and six of seven.
"I definitely knew there was going to be a little bit of rust, but I thought we played a good first period and the game was OK," Allen said. "We did some good things, but time is ticking here and we know that. We talked about it but it didn't go our way tonight."
The game marked the return of center Jack Hughes to the New Jersey lineup. He scored 1:41 into overtime to give the United States a 2-1 win against Team Canada in the gold medal game Sunday.
"I just get goose bumps watching the video now just because the emotions are so raw and it means so much to every single one of those guys," Hughes said. "We're all genuinely just so happy for each other that we won."
Hughes missed the Devils’ last three games prior to the Olympic break with a lower-body injury. He had an assist and one shot on goal in 21:25 of ice time Wednesday.
"It's obviously been some of the best three days of my life, probably," he said. "I had so much fun with this group of guys and I'm sure everyone on this team probably wishes it was still going, but it's nice to get back into a routine and get back with our teammates here."
Luukkonen stopped Hughes’ snap shot from the right face-off circle at 1:34 of the second period.
Thompson then gave Buffalo a 1-0 lead at 8:10 when he scored on a snap shot from the slot after a pass from Krebs.
"We have something really good going here and I think every point, especially at this point in the season, going forward, is crucial for us," Thompson said. "Especially against teams in the East. ... It was a big one tonight. It wasn't the prettiest game, but we found a way to get it done."