In a groundbreaking turn of events for the state of New Jersey, internet gambling has surged to new heights, setting a record-breaking $198 million in revenue for the month of July. This milestone comes as a stark contrast to the struggling land-based casinos in Atlantic City, which continue to lag behind in revenue generation.
The impressive growth in online gambling can be attributed to a combination of factors, including the convenience and accessibility of playing from the comfort of one’s own home, as well as the ongoing pandemic which has limited in-person gambling opportunities. As a result, many players have turned to online platforms to satisfy their gambling needs, leading to a significant increase in revenue for the state.
According to reports from the New Jersey Division of Gaming Enforcement, online casino games accounted for the majority of revenue, bringing in a staggering $178.7 million in July. This represents a massive 36% increase from the same time last year, highlighting the immense popularity of virtual gambling platforms among players.
In comparison, land-based casinos in Atlantic City struggled to keep pace with their online counterparts, posting a combined revenue of just $250.8 million for the month. While this is still a substantial amount, it pales in comparison to the record-breaking numbers being generated by internet gambling.
The disparity between online and land-based gambling revenue has raised concerns among industry analysts, who fear that traditional brick-and-mortar casinos may continue to struggle in the face of increasing competition from online platforms. However, others see this shift as a natural progression in the evolution of the gambling industry, suggesting that land-based casinos will need to adapt to changing consumer preferences in order to remain competitive.
Despite the challenges facing land-based casinos, industry experts remain optimistic about the future of gambling in New Jersey. With internet gambling on the rise and new legislation opening the door to sports betting, the state’s gambling industry is poised for continued growth and success in the coming years. As the landscape of gambling continues to evolve, only time will tell how these changes will impact the traditional casino industry in Atlantic City.