Another Stellar Month for New Jersey Online GamblingPublished June 20, 2017 by Elana K
The New Jersey Division of Gaming Enforcement revealed the online gambling revenue from the previous month, which showed both a month-on-month increase and a year-on-year increase.
What a month New Jersey had in May! The Division of Gaming Enforcement revealed the online gambling revenue from the previous month, which showed both a month-on-month increase and a year-on-year increase.
The total revenue from iGaming in May was $21.1 million, while April’s was $20.8 million, adding up to approximately a $1 million increase. As for last May, revenue was $16.5 million, which means that the year-on-year increase is nearly $5 million.
Casino Winners and Losers
The Golden Nugget came in first with $5.9 million of casino-only revenue. It has been the consistent frontrunner for a number of months now.
The Tropicana competed with Resorts Digital Gaming for second place, and won by a hairbreadth. The Tropicana’s revenue hit $4.009 million while Resorts brought in $4.008 million.
In fourth place was Caesars Interactive Entertainment, with $3.64 million, and Borgata came in fifth with just under $3.5 million.
Borgata is perhaps the biggest disappointment because it had been in the lead for so many months. The hope is that the upcoming launch of an MGM-branded online casino later this year might help the struggling casino.
Good News for Poker Fans
Poker, which had been suffering for most of the year while online casino games were thriving, actually showed a 4 percent month-on-month increase from April, adjusted for the extra day in May.
Traditional Casinos Also Have a Good Month
In May, land-based casinos brought in $208.3 million, a significant increase from April’s $191 million as well as the revenue from May 2016, which amounted to $203.3 million.
Tax Revenue Live Up to Expectations
May’s revenue pushed New Jersey over the edge of $100 million in tax revenue since online gambling was legalized in 2013. States that are considering legalizing online gambling for the benefits of tax revenue are absolutely correct - it is a great way to help state coffers while providing jobs and entertainment to local residents.