New Jersey Sets Record For Online Gaming RevenueGarden State Online Casino Operators Pulled In $85.9 Million In May |
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New Jersey brick-and-mortar casinos are still closed, but the online versions set record revenue in May.
According to figures released by the New Jersey Department of Gaming Enforcement, online casinos in the Garden State won $85.9 million during the month. The figure represents a whopping 129 percent year-over-year increase from May 2019 and sets a record for online gaming revenue.
Sports betting revenue, which also needed to be placed online but isn’t counted in online gaming revenue, added another $9.9 million in revenue, bringing the gross gaming revenue to $95.9 million.
With the brick-and-mortar iterations closed, the overall numbers took a predictable 65.4 percent decrease from the $276.8 million won in May 2019, but those numbers will return to normal when Atlantic City casinos reopen.
According to both Gov. Phil Murphy and Atlantic City Mayor Marty Small Sr., that day will likely come in July.
New Jersey online poker generated $4.5 million in rake, down 12 percent from its record-setting April, but still up 151 percent year-over-year.
While many state governments that rely on gambling for revenue were struggling, New Jersey still collected $14.2 million in tax revenue. The state taxes gross gaming revenue at a rate of 8 percent, but taxes internet gaming revenue at 15 percent.
Nevada, on the other hand, which only has online poker at its disposal, only collected taxes on the $3.65 million in rake collected by the Caesars-owned WSOP.com in April, the most recent data released by regulators.
Sports betting is also available online in the Silver State, but until recently, it required in-person registration. That in-person requirement was obviously not available while casinos were forced to close their doors.
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