New Jersey’s stubborn determination to legalize online gambling in an effort to save the failing casinos of Atlantic City is, once again, appears to be working out perfectly. According to numbers recently released by the New Jersey Division of Gaming Enforcement July 2019 produced record revenue for the Garden State’s online operators with the Golden Nugget leading the pack.

All told, NJ’s online gambling business pulled in $39.3 million in revenue for the month. That number not only breaks the previous revenue record, it’s up more than 50 percent over the previous year.

Of that $39.3 million, $37.4 million was generated in the state’s online casinos, where digital slots and table games are proving to be remarkably popular. The flip side of that coin is the online poker business (the piece of the pie that was originally envisioned as the industry’s driving force) which only generated $1.87 million in revenue. While that number is pretty weak, it does represent a 2.1 percent gain over the previous July.

For the year, online gambling revenues in New Jersey are up $55.2 percent with a current total of $256.8 million. Online poker, despite its weak growth in July, is down 2.1 percent for the year with revenue totaling $12.7 million for the year-to-date. By way of comparison, online casino revenues are up slightly more than 60 percent over the previous year with $244 million in revenue so far.

With numbers growing so quickly during the summer months, NJ online gambling operators are expecting to do big business once American football season starts at the end August. It all proves that New Jersey’s gamble on online gambling is paying off in a major way.

Tags: ,

Related posts: