In a remarkable turn of events, the online casino industry in New Jersey has hit a new single-month record in terms of revenue, according to PlayUSA. The state’s online casinos generated a staggering $113.7 million in gross gaming revenue in March, surpassing the previous record set in November 2021.
This milestone achievement comes at a time when the online gambling market in the United States is experiencing rapid growth, with New Jersey being a frontrunner in the industry. The state has consistently been at the forefront of online gambling legalization and regulation since it was one of the first states to legalize online casinos in 2013.
The success of the online casino industry in New Jersey can be attributed to several factors, including the state’s strong regulatory framework, a diverse range of games and platforms offered by operators, and a growing acceptance of online gambling among consumers. Additionally, the COVID-19 pandemic has accelerated the shift towards online gambling, as people have been forced to stay indoors and seek new forms of entertainment.
In March alone, online casino games generated $103.9 million in revenue, while online poker contributed $9.8 million. The top-performing online casino operators in the state included brands such as Golden Nugget, Borgata, and Resorts Digital.
Commenting on the record-breaking month, Eric Ramsey, an analyst for PlayUSA, said, “The New Jersey online casino market continues to show impressive growth, with March being a particularly strong month. Players are clearly drawn to the convenience and variety of games offered by online casinos, and operators have been quick to capitalize on this trend.”
Despite the positive news, industry experts are quick to caution that the online casino market in New Jersey remains highly competitive, with new operators entering the market regularly. Additionally, there are ongoing concerns about the impact of increased competition from neighboring states, such as Pennsylvania and New York, which are also looking to expand their online gambling offerings.
Looking ahead, the future of the online casino industry in New Jersey looks bright, with projections suggesting continued growth in the coming months. As more states consider legalizing online gambling, New Jersey’s success serves as a model for other states looking to capitalize on the lucrative industry.