LAS VEGAS, July 12, 2017 /PRNewswire/ -- New Jersey's online casinos have now generated nearly $600 million in gross revenue since the online gambling was legalized and regulated in November 2013, according to analysts from PlayNJ.com. In June, New Jersey's online casinos collected more than $20 million in gross revenue for the fourth consecutive month, propelling legal online casinos to $599 million in lifetime revenue.
"At its current pace, New Jersey's online gambling industry will blast past the $700 million milestone before it celebrates its fourth birthday in November," said Steve Ruddock, lead analyst for PlayNJ.com. "Instead of listening to agenda-driven hypotheticals and what-ifs about online gaming, lawmakers considering online expansion in states such as Pennsylvania should focus on the sustained and prodigious growth occurring in New Jersey."
New Jersey's Monthly Internet Gross Revenue Report released Wednesday showed that legal online casinos generated $20.23 million during the 30 days in June.
Combined, New Jersey's legal online casinos equate to the fifth-largest casino in Atlantic City in terms of gross revenue.
"The continued success of New Jersey iGaming shouldn't be a surprise," Ruddock said. "The synergies between online and land-based gaming are indisputable at this point, prompting casinos to step-up their commitment to iGaming. Frankly, it would be a dereliction of duty for an Atlantic City casino to not take full advantage of the many benefits online gaming affords."
Also in June, New Jersey online casinos collected $3.54 million in tax revenue, and the Golden Nugget Atlantic City led all casinos with in $5.58 million in revenue.
For more information and analysis on regulated online gaming in New Jersey, visit PlayNJ.com.
About The PlayUSA Network:
The PlayUSA Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches (including PlayNJ.com, PlayNY.com, PlayPennsylvania.com, and PlayCA.com) produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online poker and gaming options for consumers.
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SOURCE The PlayUSA Network