Online gambling has been alive and well in New Jersey for quite some time. And the month of June was no exception. Results for the summer’s first month are out and, let’s just say, casino operators are feeling pretty good right about now.
New Jersey legalized internet gambling in 2013, the second state behind Nevada to do so. Things haven’t always gone smoothly for the online casinos. But business has picked up in recent years and Atlantic City’s land-based casinos have benefited from the online gambling growth in the Garden State.
New Jersey Revenue as a Whole
How good was the month of June for the Garden State? New Jersey’s online gambling operators raked in $38.1 million in combined revenue. That amount is only $1 million short of the state’s six-year monthly record set in March.
So, there really is no way to spin this in a negative manner. Online gambling is thriving in New Jersey and the industry’s future looks brighter than the sky on a hot summer day.
It Gets Even Better
We’ve already shared some good news about how New Jersey ‘s online gambling industry crushed it in June. But we have some additional positive related news.
As stated, internet casino operators raked in $38.1 million in revenue in June. The state generated $22.7 million the same month last year. That’s a 68 percent increase year-over-year.
And here’s the crazy thing. When New Jersey hit $22.7 million in online gambling revenue last June, no one was complaining. In fact, most industry experts were ecstatic. But that impressive month doesn’t even compare to June 2019.
Table Games and Slots Crushing It
If you’re a poker fan, you might not like what you’re about to read. If you prefer table games and slot machines, you will.
New Jersey’s online casinos raked in just $1.8 million from its poker sites in June. That’s actually up 0.7 percent compared to the same month last year. But the state still isn’t generating much revenue from online poker, for some odd reason.
Many are confused as to why the online poker sites remain barely profitable. Poker is a popular game in the US, including New Jersey, a state with some of the top brick-and-mortar poker rooms in the country in Atlantic City.
Now onto some good news. Online gambling overall is thriving in the state. Table games (blackjack, roulette, etc.) brought in $36.3 million in June, which is up 73.4 percent compared to the same month in 2017. Plain and simple – New Jersey residents love to gamble.
Golden Nugget Tops the Charts
It’s no secret that the most popular online casino is owned by Golden Nugget. The casino and hotel’s internet gambling site generated $13.6 million just in the month of June, far and away the most in the state.
Resorts World, which has partnered with PokerStars for its online poker site, earned $6.9 million, good for second place but still barely half that of Golden Nugget’s earnings.
Sports Betting Off to Great Start
The US Supreme Court overturned a federal ban on sports betting in 2018. That paved the way for individual states to legalize sports betting. New Jersey was the second state to pass legislation.
During the month of June, the state land-based sportsbooks took in $9.7 million in revenue, which is strong considering the NFL and college football are out-of-season. Internet sportsbooks generated another $6.9 million in revenue.
You can expect a huge season from the NFL bettors in New Jersey.