March Revenue Data Unveiled by New Jersey Regulator
In the bustling state of New Jersey, the gambling industry continued to flourish in March 2024, with a total gaming revenue of $526.6 million. This figure represents an impressive 8.1% increase from the same month in the previous year, according to the latest report from the New Jersey Division of Gaming Enforcement.
The sports wagering sector also saw a significant boost, with gross revenue for March 2024 reaching $93 million. However, compared to the same month in the previous year, the revenue declined by 3.6%, marking a slight dip in growth.
Online gaming, on the other hand, continued to be a star performer. Internet gaming win for March 2024 reached a staggering $197.2 million, representing a growth of 19% compared to March 2023. This trend extended to the year-to-date period, with internet gaming win standing at $562.8 million, reflecting a growth of 22% from a year ago.
The total win for March 2024, which includes both casino and internet gaming, represents a 4.9% increase year-on-year compared to March 2023. On a year-to-date basis, casino win remained stable at $651 million, while sports wagering gross revenue for casinos, racetracks, and their partners reached an impressive $328 million, marking a 49.1% increase compared to the prior year-to-date period.
Amidst this prosperity, the health and wellbeing of casino workers have come under scrutiny. Advocates are pushing for a smoking ban, citing concerns about the impact of second-hand smoke on employees' health. Notable figures such as the American Nonsmokers' Rights Foundation and Michigan-based health care system, Trinity Health, have recently filed proposals with shareholders of three leading gambling operators in the state, urging for such a ban.
As for the legislative landscape, Senate Bill 3064, which proposes increasing the iGaming tax to 30%, is currently under consideration. The Greater Atlantic City Chamber of Commerce has formally opposed the bill, submitting written comments to the New Jersey Senate Budget and Appropriations Committee. However, the precise legislative status of the bill, such as committee review, floor votes, or governor's action, is not detailed in the available sources.
For the latest updates beyond this, consulting New Jersey legislative tracking resources or the official New Jersey Legislature website would be necessary.
In the vibrant gambling scene of New Jersey, these developments promise an interesting trajectory for the industry, balancing growth with concerns for health and the potential impact of taxation changes.
Online gambling activities, such as casino games, continued to be a significant contributor to the industry's success in New Jersey, with internet gaming win reaching $197.2 million in March 2024, showcasing a 19% increase compared to the same month the previous year. Sports betting also remains popular, although it experienced a slight dip in growth with a 3.6% revenue decline in March 2024 compared to the same period in the previous year.
