Report shows online gambling a win for New Jersey
1 May 2017
The benefits of regulated online gambling in New Jersey have included:
- $536.62 million in total new revenue for casino operators.
- $93.91 million in direct tax revenue for the state.
- More than 3,300 jobs created or supported.
- A reversal of revenue declines in Atlantic City.
- Successful implementation of regulations that protect consumers.
"Any state looking to New Jersey can draw three clear lessons," Grove added. "First, regulation works. Second, there is a massive consumer demand for online products. Finally, online gambling supports the health and long-term viability of land-based casinos."
Nowhere is the positive impact of legalized online gambling felt more than in Atlantic City. Not only has online gambling injected more than $530 million in new revenue, but in 2016 the iconic destination posted its first year-over-year increase in gambling revenue in 10 years.
Importantly, executives from Borgata Hotel Casino and Spa, Caesars Interactive Entertainment and Golden Nugget - Atlantic City have all confirmed in statements that at least 80% of online customers have been new to their casinos. This evidence disposes of one of the chief arguments employed by opponents of legal online gambling: that regulated online gambling siphons revenue from land-based casinos.
"Hard data from the Borgata, Caesars and the Golden Nugget has demolished any doubt," Grove said. "The online customer is a new customer, one that generates new revenue for casinos. These customers are critical to the turnaround just now starting to take hold in Atlantic City — and they wouldn't exist without legal online gambling."
To download a free copy of the full eight-page NJ Online Casinos report, visit the website.