New Jersey sets online gaming revenue record

New Jersey collected US$85.9 million from online gaming in May as casinos remain closed.

US.- New Jersey has set another record for online gaming revenue.

According to figures released by the New Jersey Department of Gaming Enforcement, online casinos earned US$85.9 million in May. It’s a 129 per cent year-on-year increase compared with the same period in 2019, and beats the market’s previos record revenue of US$80m the previous month.

Online poker generated US$4.5 million down 12 per cent from a record haul in April, but still up 151 per cent year-on-year.

Online sports betting revenue is not counted in the figures, but since sports bets had to be placed online owing to the Covid-19 pandemic, this added another US$9.9 million in revenue, bringing total online gross gaming revenue to US$95.9 million.

Overall gambling revenue in the state fell by 65.4 per cent to US$276.8 million as Atlantic City casinos remained closed through May.

The casinos expect to resume operations in July, according to governor Phil Murphy and Atlantic City mayor Marty Small Sr.

New Jersey collected US$14.2 million in tax revenue from gaming in May. The state taxes gross gaming revenue at a rate of 8 per cent for land-based venues, but taxes internet gaming revenue at 15 per cent.