July pushes online casinos in New Jersey past the $600m mark since iGaming began
July was a milestone month for the state of New Jersey when it comes to online gaming. Since legalizing and regulating online casino and poker gaming in November 2013, online casinos in the state have been able to continue to reach milestones, surpassing the $600m mark in combined gross revenues. With the earnings from July, iGaming in the state has reached $619.36 million for lifetime revenue earnings.
According to analysts at PlayNJ.com, the earnings milestone was not the only good news for the online gambling industry of New Jersey. In July, two new online casinos became available, one from playMGM and one from Scores. This provides players with even greater online gaming options.
Regarding July revenues, the regulated online casinos earned a total of $20.6 million in gross gaming revenues. Reports by the Division of Gaming Enforcement show these new totals along with tax revenue generated. Since 2013, the state has continued to receive tax revenues from the industry, with just over $108 million collected in total.
PlayNJ.com lead analyst Steve Rudduck stated that the momentum is building when it comes to online gaming as other states like Pennsylvania ‘drag their feet on legalizing online gaming’ companies are heading to the Jersey Shore to become involved in the iGaming action.
The month of July was actually the fifth month in a row that NJ online casinos were able to generate more than $20 million in gross gaming revenues. Individual casinos were able to reach milestones as well. The Golden Nugget of Atlantic City has been able to reach the top spot when it comes to online gaming operations. Consisting of the Golden Nugget, Betfair and SugarHouse brands, $6.25 million was earned for July, which helped the Golden Nugget to reach a milestone of more than $125 million in casino gaming lifetime revenues, the first licensee to do so online.
The Borgata Hotel Casino & Spa, which is home to the online brands of the Borgata, Pala and Party, was able to earn $3.8 million for the month. As one of the first to offer online gaming options, the Borgata remains a leader when it comes to total gambling win. Overall, with casino and poker totals, the Borgata has produced $167.98 million.