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NEWS 15 August 2017

New Jersey’s iGaming revenue continues to grow

By Harrison Sayers
Revenue generated by New Jersey's online casinos rose to over $600m in total since their legalisation in November 2013.

The month of July saw New Jersey's online casinos create over $3.6m in tax revenue, while the introduction of two new online operators, playMGM and Scores, helped to see gross profits in the month rise up to $20.6m. This left the total tax revenue bill for the state at $108.1m according to the state’s Division of Gaming Enforcement.

Steve Ruddock, lead analyst for PlayNJ.com said: “Stuffing state and local coffers with over $100 million in tax revenue certainly drops the curtain on any lingering revenue concerns. The momentum is building, too. While states such as Pennsylvania drag their feet on legalising online gaming, companies of all stripes are flocking to the Jersey Shore to grab a piece of the online gaming action.”

The Golden Nugget Atlantic City, home to the Golden Nugget, Betfair and SugarHouse online brands, remains the leading operator in New Jersey having reached a milestone of $125m in lifetime revenue from casino games.

“The Golden Nugget's success is testament to the great equalising power of online gaming,” Ruddock said. “On the Internet, a small casino can compete with casinos two or three times its size.”
RELATED TAGS: Online | Financial
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