In a groundbreaking turn of events, the world of internet gambling in New Jersey has reached a new milestone, as the state has reported a record-breaking $198 million in revenue for the month of July. This astonishing figure not only marks the highest revenue ever recorded for online gambling in the state, but it also serves as a stark contrast to the struggling land-based casinos in Atlantic City, which continue to lag behind.
According to reports from the New Jersey Division of Gaming Enforcement, online gambling revenue reached a staggering $198.7 million in July, marking a significant 15.6% increase from the previous month. This surge in revenue can be attributed to the growing popularity of online gambling platforms in the wake of the COVID-19 pandemic, which forced the closure of land-based casinos and encouraged players to try their luck online.
The success of internet gambling in New Jersey can also be attributed to the state’s innovative approach to regulating the industry. In 2013, New Jersey became one of the first states to legalize online gambling, paving the way for a thriving market that continues to attract players from across the country.
While online gambling flourishes, the story is quite different for land-based casinos in Atlantic City. Despite reopening to the public earlier this year, these brick-and-mortar establishments have struggled to attract visitors and generate revenue. In fact, the casinos reported a combined revenue of just $213.1 million in July, a disappointing 26.9% decrease from the previous year.
Industry experts believe that the success of internet gambling in New Jersey could have a lasting impact on the future of the state’s gambling industry. With more players turning to online platforms for their gaming needs, land-based casinos may need to adapt to the changing landscape in order to remain competitive.
In light of these developments, lawmakers in New Jersey are considering ways to further capitalize on the success of online gambling. Some have proposed expanding the state’s online gambling offerings to include sports betting, while others advocate for increasing marketing efforts to attract new players.
As the world of gambling continues to evolve, one thing is clear: New Jersey is leading the way in embracing the future of gaming. With record-breaking revenue figures and a growing online market, the state is poised to remain at the forefront of the gambling industry for years to come.