In a surprising turn of events, New Jersey online casinos have shattered their previous revenue record for the month of May, with a staggering increase of 19.9% compared to the previous year. This unprecedented growth has left industry experts stunned and has many questioning what the future holds for online gambling in the Garden State.
According to the New Jersey Division of Gaming Enforcement, online casinos in the state generated a total of $112.8 million in revenue for the month of May 2023. This marks a significant increase from the $94.2 million generated in May 2022 and surpasses the previous record of $105.2 million set in March of this year.
The surge in revenue can be attributed to a number of factors, including a growing acceptance of online gambling, the continued expansion of the online casino market in New Jersey, and the impact of the COVID-19 pandemic on traditional brick-and-mortar casinos. With more people turning to online gambling as a form of entertainment, it’s no wonder that revenue numbers are on the rise.
One of the biggest contributors to the record-breaking revenue figures was the popularity of online slots and table games. These categories saw a significant increase in revenue, with online slots generating $85.6 million and table games bringing in $16.5 million for the month of May. Additionally, online poker also saw a boost in revenue, with a total of $10.7 million generated during the month.
Industry experts believe that the trend of increasing online casino revenue in New Jersey is likely to continue in the coming months. With more people becoming comfortable with online gambling and the convenience of being able to play from the comfort of their own homes, it’s likely that online casinos will continue to see growth in revenue for the foreseeable future.
The record-breaking revenue numbers for New Jersey online casinos have not gone unnoticed by industry leaders. Many are now speculating on what this means for the future of online gambling in the state and how it will impact the overall gambling industry moving forward. With online casinos continuing to gain popularity and revenue numbers on the rise, it’s clear that the future of online gambling in New Jersey is looking brighter than ever.