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New Jersey Online Gambling Revenue Hits New RecordPublished March 20, 2018 by Elana K
Despite February being the shortest month of the year, New Jersey online gambling revenue hit an all-time high of $22 million. The Golden Nugget came in at first place with an impressive $7.88 million in total revenue.
Despite February being the shortest month of the year, New Jersey online gambling revenue hit an all-time high of $22 million. This is the second month in a row that New Jersey online gambling revenue has broken records; of course, almost every month of 2017 also saw the industry hitting record-highs, with very few exceptions.
Leading Online Casinos
The Golden Nugget brought in $7.88 million in February, maintaining the title of first-place winner that it’s garnered for itself over the past few months. Borgata came in at a far second, with $3.79 million in total revenue, just beating out Resorts, which came in at third place with $3.77 million.
Online Poker Still Struggling
Despite New Jersey’s record-breaking numbers for online gambling, its online poker industry is still continuing to struggle. However, February brought a slight, slight cause for hope, showing an increase of 0.6% over last month’s total. While that doesn’t sound like much, it’s certainly better than an overall decrease, which has been online poker’s story for the better part of 2017.
Total Tax Revenue From NJ Online Gambling
One of the reasons that many states are currently considering legalizing online gambling is that the industry is designed to bring in tax revenue, thus creating a long-term solution to help states with their budget deficits.
New Jersey is the paragon of state-regulated online gambling, since its online casinos are thriving and bringing in a steady stream of tax dollars to state coffers. Including February 2018, the online gambling industry has paid a total of $143.3 million in taxes to the state of New Jersey since online gambling was legalized in 2013. If that’s not reason enough for other states to pass regulations, we don’t know what is.