New Jersey Online Poker Revenue Record—May 2020
record poker revenue new jersey
For the second consecutive month, New Jersey iGaming operators have seen an increase in online poker revenue.
TRENTON, NEW JERSEY, UNITED STATES, May 26, 2020 /EINPresswire.com/ -- For the second consecutive month, New Jersey iGaming operators have seen an increase in online poker revenue. Reports from April were released by the New Jersey Department of Gaming Enforcement showing that the Garden State generated $5.1 million in revenues for the month. This comes after a successful March when operators raked in $3.6 million, the previous monthly record.
Huge Increase in Earnings
April was a big month for poker in New Jersey. The online earnings were 208% higher than the same month in 2019. This was the first full month that land-based casinos were closed due to the coronavirus. While players could not physically go to a venue to play poker, they could easily log online. Residents of the state have turned to iGaming as a form of entertainment as they continue to practice social distancing during the pandemic.
Players in New Jersey have access to a wealth of websites that offer poker gaming. The WSOP and PokerStars are just a few examples of operators offering services in the state. Players often use poker website reviews to find sites that offer poker gaming options.
The reports showed PokerStars NJ was the top operator for the month, bringing in $2,066,293 in earnings. WSOP NJ was not far behind, earning $1,862,004. Coming in next was partypoker, with $1,220,076 in revenues.
Additional Online Gaming Earnings
According to CardPlayer, online gaming brought in an additional $74.8 million, which was an increase of 114% from last April. Sports may be shut down for the moment, but players still had access to some online options in the Garden State. A total of $2.6 million was earned in revenues, but most earnings came from obscure sports or international leagues.
From the total monthly iGaming revenues, the state managed to rake in $12.4 million in taxes. The industry is taxed at a 15% rate. During the first four months of 2020, the total gaming revenue for New Jersey is just over $833 million. This is much less than the previous year, then the first four months resulted in over $1 billion in earnings.
The state is hurting from nonessential business shutdown. It is unclear as to when casinos will reopen in the state. Governor Phil Murphy has yet to make the announcement involving a date when the nine gaming venues will reopen in Atlantic City.
Joseph Falchetti
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