LAS VEGAS, June 14, 2017 /PRNewswire/ -- New Jersey's online casinos have now generated more than $100 million in total tax revenue for the state after posting another strong showing in May, according to analysts from PlayNJ.com.
The New Jersey Monthly Internet Gross Revenue Report, which was released Wednesday by the state's Division of Gaming Enforcement, showed that legal online casinos generated $21.1 million in gross revenue during the 31 days in May. That pushed New Jersey to $101.25 million in total tax revenue generated since New Jersey legalized online casino games and poker in 2013.
"Even naysayers cannot deny the impact of New Jersey online gambling, which has now contributed more than $100 million to state coffers," said Robert DellaFave, senior analyst for PlayNJ.com. "New Jersey's online gambling industry may be the state's only new revenue stream to both generate more than $100 million in tax dollars and to do it without placing a heavy burden on citizens."
May gross revenue was up from $20.8 million in April and nearly reaching the record $21.7 million in March. The impressive tally comes in spite of the Memorial Day holiday weekend, which typically suppresses online gambling revenue.
Nowhere has the impact of regulated online gambling been felt more than in Atlantic City, which is using the reinvestment tax as part of a state rescue plan to pay down hundreds of millions of dollars of the city's debt.
"Atlantic City is inundated with debt, but thanks to tax revenue contributions from online gambling, the beleaguered city stands a stronger chance of making a full recovery," DellaFave said.
For more information and analysis on regulated online gaming in New Jersey, visit PlayNJ.com.
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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