June Online Gambling Revenue Totals
Online gambling sites in New Jersey generated $84.9 million in June. This was close to the all-time record set in May. Sportsbooks were in action as well, providing an additional $12.6 million from the online sector. With this addition, the state came close to reaching the nine figure mark. The New Jersey Division of Gaming Enforcement released the details just this week.
Breaking down the revenues individually, online casinos brought in the bulk at $81,376,070. For online poker, the state is still doing well at $3,537,077. However, this was a drop from May’s totals. For the most part, the decrease could be contributed to a fewer days in June when compared to May.
In total, online casino and poker gaming was up 2.1% from May and over 123% from June of last year. Online casino gaming was up 3.3% from May and just over 124% for the year. The state was provided over $14 million in tax revenues from the gaming sites.
The Golden Nugget continues to be the top operator, bringing in just over $29.1 million in June. This was a 3.66% increase from May and a 114.35% increase from last June. The brand continues to be a powerhouse and no other operator is even close to reaching their scale.
In second place again was Resorts, a brand that offers both online poker and casino gaming. Poker generated just over $1.2 million while online casino brought in just over $15.9 million. In total, the brand succeeded in earning $17.1 million which was an almost 150% increase from June of 2019.
Not far behind was the Borgata. This brand offers online poker and casino gaming as well. Their online poker operations brought in just under a million while casino was up over $15.9 million. This was a huge increase for Borgata from 2019, with just over 180% from the previous year.
Providing Revenues During an Uncertain Time
New Jersey is one of only a handful of states that offers some form or online gambling. The state is lucky in this aspect as they have been able to bring in revenues when other states with traditional land-based casinos have not.
In March, casinos across the US began to shut down due to the coronavirus. Some are still closed. The virus has taken hold and new cases continue to pop up in states across the nation. As the virus remains an issue, casinos that are opened back up, are operating at a much lower capacity.
This means the casinos are not bringing in the revenues they are used to. This means salary cuts for executives and job loss for employees. If more states were to legalize online gambling, it would provide a fall back of sorts, if something like this were to happen again, or if this pandemic continues for an undetermined amount of time.
In many states where such legislation has been considered, the argument remains that the land-based industry will be harmed. New Jersey is a prime example as to how online gambling can thrive alongside a traditional land-based environment. Atlantic City was doing quite well before the pandemic began and operators in the region have been able to continue to earn money thanks to iGaming.
We shall see if this pandemic spurs other states to join the Garden State in offering online casino and poker gaming to have more ways to build revenue if something like this were to occur in the future.