In a recent report released by the New Jersey Division of Gaming Enforcement, it has been revealed that internet gambling in the Garden State has set a new record, boosting casino revenues to unprecedented levels. The data shows that online gambling revenue reached a staggering $931.5 million in the first quarter of 2021, an increase of almost 80% compared to the same period last year.
This surge in online gambling can be attributed to several factors, including the ongoing COVID-19 pandemic which forced many brick-and-mortar casinos to close their doors temporarily. As a result, more and more gamblers turned to online platforms to satisfy their gaming needs. Additionally, the convenience and accessibility of internet gambling have also played a significant role in its growing popularity.
The report also indicates that online casino games were the main drivers of the revenue increase, with slots, table games, and poker all experiencing significant growth. In fact, online slots saw the biggest jump in revenue, reaching an all-time high of $600 million in the first quarter of 2021.
Furthermore, the rise in online gambling has had a positive impact on overall casino revenues in New Jersey. The total gaming revenue for the state’s casinos reached $1.2 billion in the first quarter of 2021, a 15% increase compared to the same period last year. This boost in revenue is a much-needed lifeline for the struggling casino industry, which has been hit hard by the pandemic.
Industry experts predict that online gambling will continue to grow in popularity in the coming years, as more states legalize and regulate online gaming. New Jersey’s success in this area serves as a testament to the potential of internet gambling as a significant revenue generator for the gaming industry.
In response to the record-breaking numbers, New Jersey Governor Phil Murphy released a statement praising the state’s gaming industry for its resilience and adaptability during these challenging times. He also emphasized the importance of responsible gambling and ensuring that appropriate safeguards are in place to protect consumers.
Overall, the future looks bright for online gambling in New Jersey, as it continues to set new records and drive casino revenues to new heights. As more states follow suit and embrace online gaming, the industry is expected to experience even further growth and success in the years to come.
