Online gambling revenue increases 60 pct in New Jersey
State gambling regulators revealed that online gambling revenue increased nearly 60% in April in New Jersey.
US.- According to the state Division of Gaming Enforcement (DGE), online gambling is performing well in New Jersey. The online industry in New Jersey posted a revenue increase of almost 60% in April to US$36.6 million. Sports betting was one of the factors of this growth.
Golden Nugget Atlantic City remains the top online gaming revenue scorer in the state, as it reported US$13.8 million in April. The modality has generated more than US$140 million in revenue through the first four months of 2019. This figure represents a 52.4% increase over the same period last year.
Steve Ruddock, lead analyst of online gambling for PlayNJ.com, believes that legalised sports betting has helped the local online and mobile gaming industry. Before online sports betting was legalised, it was thought that the revenue growth of online casinos in New Jersey would begin to tail off,” Ruddock said. “The effect of online sports betting has been profound. It infused new energy in gamblers and new investment into online casinos. Because of that, growth has actually accelerated significantly.”
Furthermore, online and mobile sports betting totalled 81% of all sports bets placed in the state. Players placed US$313.7 million in sports bets in April. Sports betting also generated more than US$6.5 million in revenue for Atlantic City casinos and their online partners in New Jersey April.
