New Jersey’s online gambling industry has set a new record for revenue, with a total of $198 million generated in the month of September. This figure represents a significant increase from the previous record of $87.4 million, which was set in August.
According to data released by the New Jersey Division of Gaming Enforcement, online casinos accounted for the majority of the revenue, bringing in $177.9 million. Online sports betting also saw a significant increase, with revenue reaching $20.1 million.
The surge in online gambling revenue comes at a time when land-based casinos in the state are struggling to recover from the impact of the ongoing pandemic. While online gambling has seen a boom in popularity in recent months, with many gamblers opting to play from the comfort of their own homes, land-based casinos have been forced to operate at reduced capacity and implement strict health and safety measures.
Despite the challenges faced by land-based casinos, some operators have been able to adapt to the changing landscape. The Borgata Hotel Casino & Spa, for example, has seen an increase in revenue from its online gambling platform, BorgataCasino.com. The casino’s online platform brought in $22.2 million in September, a significant increase from the $16.3 million generated in August.
Other casinos, however, have not been as successful in transitioning to the online space. The Golden Nugget Atlantic City, for example, saw a decrease in revenue from its online platform, falling from $30.9 million in August to $28.2 million in September.
Despite the mixed results for individual casinos, the overall growth of the online gambling industry in New Jersey is a positive sign for the state’s economy. With more people turning to online gambling as a form of entertainment during these challenging times, the industry is likely to continue to see growth in the coming months.