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New Jersey's online gaming revenue rises in March

13 Apr 2017

(PRESS RELEASE) -- New Jersey's legal online casinos hauled in enough gaming revenue to post another banner month in March, and that helped the industry hit some crucial milestones — including $80 million in total tax revenue — according to analysts from PlayNJ.

The New Jersey Monthly Internet Gross Revenue Report, which was released Wednesday by the state's Division of Gaming Enforcement, showed that legal online casinos generated a record $21.7 million in gross revenue in March. That is the first month revenue has exceeded $20 million, and it pushes New Jersey past $536.5 million in total revenue since the state legalized online casino games and poker in 2013.

In addition to tax revenue, the key milestones hit in March include three New Jersey legal online casinos passing significant revenue marks. The milestones include:
  • Borgata Hotel Casino and Spa surpassing $150 million since its launch.
  • Tropicana Atlantic City Casino & Resort crossing $100 million in total revenue.
  • Resorts Digital Gaming passing the $50 million mark.
  • The state has now surpassed $80 million in total tax revenue since 2013, putting it on pace to climb past the $100 million mark before the end of 2017.
"Nearly three and a half years since its inception, the train that is the New Jersey online gambling industry continues to gather steam," said Robert DellaFave, senior analyst for PlayNJ. "Every month the industry either flirts with or sets a new record for revenue."

Critically, the vast majority of the revenue generated online is from new customers, rather than existing customers simply shifting their spend online. Executives from Borgata, Caesars Interactive Entertainment and Golden Nugget - Atlantic City have all confirmed in statements that more than 80% of their online customers are new to their casinos.

"Any fears that land-based gamblers are trading in their chips and slot pulls for their online equivalents are misguided," DellaFave said. "New Jersey online gambling revenue largely comes from players that have never set foot inside an Atlantic City casino. Online gambling is a critical component of Atlantic City's revitalization efforts."

For more information on regulated online gaming in New Jersey, visit PlayNJ.
 
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