iGAMING GROWTH LIFTS NEW JERSEY GAMBLING REVENUE IN JANUARY
HighlightsÂ
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New Jersey reports total revenue of $586.4 million in January, up 5.9% year over year.
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Land-based casinos, the core source of gambling revenue, grew modestly by 1.6% to $213.3 million.
The total gross revenue of the gambling market continued to surge, reaching $586.4 million in January, according to the New Jersey Division of Gaming Enforcement. The iGaming sector in the city contributes up upto $258.9 million and has been the driving force, with a staggering 16.8% year-on-year growth.
Compared with December, overall revenue was down 3.2%. Progress was seen in both the iGaming and land-based casino markets, while the sports betting segment saw a slight dip.
The $258.9 million in revenue from iGaming platforms is attributable to other authorized games, including online slots and table play. However, this still falls short of December’s record of $273.2 million.Â
In contrast to iGaming, the sports betting segment in New Jersey in January was down 6.5%, with revenue falling to $114.2 million. Online sports betting fetched 5.3% less, accounting for $112.3 million. In retail wagering, revenue plummets to $1.9 million, down 47.1%.
Land-based casinos are considered the primary source of gambling revenue, recording $213.3 million, a modest 1.6% increase, and continue to rank second on the list.
Overall, $97.1 million in taxes was raised from the entire gambling market. This covers $57.4 million from iGaming, $23.9 million from sports betting and $15.7 million from land-based casinos.
For more information, Refer Here!
Compared with December, overall revenue was down 3.2%. Progress was seen in both the iGaming and land-based casino markets, while the sports betting segment saw a slight dip.
The $258.9 million in revenue from iGaming platforms is attributable to other authorized games, including online slots and table play. However, this still falls short of December’s record of $273.2 million.Â
In contrast to iGaming, the sports betting segment in New Jersey in January was down 6.5%, with revenue falling to $114.2 million. Online sports betting fetched 5.3% less, accounting for $112.3 million. In retail wagering, revenue plummets to $1.9 million, down 47.1%.
Land-based casinos are considered the primary source of gambling revenue, recording $213.3 million, a modest 1.6% increase, and continue to rank second on the list.
Overall, $97.1 million in taxes was raised from the entire gambling market. This covers $57.4 million from iGaming, $23.9 million from sports betting and $15.7 million from land-based casinos.
For more information, Refer Here!
