In April, New Jersey saw its overall gambling revenue increase by a whopping 10.4%, according to the latest figures released by the state’s Division of Gaming Enforcement. However, despite this significant increase in overall revenue, in-person casino winnings were actually down during the same period, painting a somewhat mixed picture of the gambling industry in the Garden State.
According to the data, total gambling revenue in New Jersey reached $352.2 million in April, up from $318.9 million in the same month last year. This increase was driven primarily by a surge in online gambling revenue, which saw a massive 64.8% jump to $107 million. This marks the 15th consecutive month of year-over-year growth for New Jersey’s online gambling market, highlighting the continued popularity of digital gaming options among state residents.
On the other hand, in-person casino winnings were down 3.2% in April, totaling $244 million compared to $252.1 million in April 2020. This decrease was largely attributed to ongoing capacity restrictions and other measures put in place to curb the spread of COVID-19. Despite the decrease in in-person casino revenue, it’s worth noting that some individual casinos actually saw an increase in their winnings during the month, suggesting that the overall decline was not evenly distributed across all establishments.
Experts in the industry have pointed to the continued strong performance of online gambling as a key driver of the overall revenue growth in New Jersey. With more and more players opting to enjoy their favorite casino games from the comfort of their own homes, online gambling has become an increasingly important revenue stream for the state’s gaming industry. This trend is expected to continue in the coming months as more states across the country move to legalize and regulate online gambling.
Looking ahead, industry analysts are cautiously optimistic about the future of the gambling industry in New Jersey. While in-person casino revenue may continue to face challenges in the short term, the overall strength of the state’s online gambling market bodes well for the industry’s long-term prospects. With the ongoing rollout of vaccines and the gradual easing of capacity restrictions, many expect that in-person casino revenue will rebound in the coming months, helping to drive further overall revenue growth for the state’s gambling industry.
