New Jersey's Internet Gambling Revenue Hits Record $208 Million in September

New Jersey's internet gambling market has set another record, with revenue reaching $208 million in September. This significant milestone highlights the growing popularity and economic impact of online gambling in the Garden State. The state's Division of Gaming Enforcement reported that the casinos and their online partners exceeded $200 million in monthly internet gambling winnings for the first time, demonstrating the importance of this vertical to the casino industry.

The ongoing success of internet gaming helped push Atlantic City's total gaming revenue to its highest figure for the month of September in over a decade. For the third consecutive month, total gaming revenue surpassed $500 million. Last year, total gaming revenue eclipsed $500 million only in August. This trend indicates a strong rebound in the gambling industry following the COVID-19 pandemic.

The casinos and their partners kept $119.5 million in revenue out of a total amount wagered of nearly $1.1 billion. While the casinos collectively exceeded their Sept. 2019 in-person revenue total by $6 million last month, five of the nine casinos won less in-person money this September than they did five years ago. This mixed performance underscores the importance of diversifying revenue streams through online gambling.

Internet gambling has become a vital component of New Jersey's economy, contributing nearly half of Atlantic City operators' total gross gaming revenue. Year-to-date, online revenues (casino and sports) have represented 48.5% of total gross gaming revenue. This trend highlights the growing role of internet gambling in diversifying the state's economy and driving local spending.

The growth of internet gambling revenue has created new job opportunities and stimulated employment in New Jersey. As the industry continues to expand, it is expected to contribute to the state's economic growth and job market. Additionally, the increased tourism and local spending associated with internet gambling have further bolstered the state's economy.

In conclusion, New Jersey's internet gambling market has reached a significant milestone, with revenue hitting a record $208 million in September. This achievement underscores the growing importance of online gambling to the state's economy and highlights the potential for continued growth and diversification in the industry. As technology continues to evolve and consumer preferences shift, internet gambling will play an increasingly important role in shaping New Jersey's economic landscape.