Online Gambling Sites
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With New Jersey Casinos Still Closed, Online Gambling Sites Win Record $86 Million inward May
Although there are now more US casinos that are open than closed, those inward Atlantic City are still shuttered. At a result, New Jersey‘s gambling manufacture remained fully dependent on online revenue through the month of May.
The goodness news is that business has been booming for online casinos and poker rooms during the shutdown.
NJ online gambling sites brought inward $86 million inward revenue inward May, while sportsbook apps contributed another $10 million.
Data comes from the latest report published by the NJ segmentation of Gaming Enforcement.
NJ online gambling highlights: May 2020
hither are some of the numbers that stick out from the May data:
Combined revenue for casino and poker reached yet another monthly record at $85,939,942.
Online casinos also set a record on their own, pulling inward $81,423,413.
Poker sites generated $4,516,529 inward rake, more than 2.5x their revenue for May 2019.
It’s hard to overstate the of import of online gambling inward recent months for the states that allow it. Those without modernized forms of gaming have got seen that source of revenue drib to zero, compounding the layoffs and furloughs affecting the workforce.
That said, 50-50 a mature online gambling market similar New Jersey’s isn’t quite plenty to create up for the casino shutdown. Total gross gaming revenue was downwards to about one-third of lastly year’s numbers despite the surge inward online business.
With online gambling revenue taxed at almost twice the rate of earth-based casino gambling, withal, operators paid a total of $14.2 million inward state and local taxes. That represents a more modest decline of 40% from May 2019.
As usual, Golden Nugget was the top domestic dog inward the state for online casino revenue, grossing $29,057,893.
Resorts held onto its second-place spot inward May, with $15,918,179 inward online casino revenue — much of that from DraftKings Casino — plus $1,746,417 from PokerStars NJ for a total of $17,664,596.