New Jersey posts online gambling record

New Jersey posts online gambling record

Online gambling experienced a great month in March 2019. Credits: TextLinks.com

New Jersey registered US$39.1 million in online gambling revenue and posted a 53% increase.

US.- The New Jersey Division of Gaming Enforcement (DGE) has released the latest financial report, which details March 2019’s total gaming revenue results. The state experienced a great month in terms of online gambling revenue.

Total gaming revenue for March was US$294 million, a 34.5% increase from the US$218 million registered in March 2018. Casino win for March was US$223.2 million, or a 15.7% rise from the same month last year.

Online gambling revenue totalled US$39.1 million in March, significantly up when compared to the US$25.6 million that was generated in the same period in 2018. This figure represents an increase of 53%. Furthermore, sports betting gross revenue was US$31.7 million for March.

For the first quarter of the year, the industry’s total gaming revenue was US$764.8 million, a 28.6% increase when compared to the US$594.9 million from 3Q18. Casino win was US$597.1 million, reflecting a 13.7% over the prior period.

Moreover, internet gaming win increased 50.3% to US$104.5 million when compared to the same period in 2018, while sports betting gross revenue was U$63.2 million.

Total gaming taxes for March 2019 were US$25.5 million. In addition, the casino industry incurred US$3.9 million in 1.25% Additional Tax on sports wagering gross revenue and Investment Alternative Tax Obligations. For the month of March 2019, the Racetrack Economic Development Tax of 1.25% of racetrack sports wagering gross revenue was US$253k.

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