By
Mike J. Davies
Editor in Chief at Casinos.US Updated: 06/24/2020
Mike is our Senior Editor and experienced gambling strategist. A former hockey player, he transitioned to the casino industry after finishing his B.A. in English. Blackjack systems, online casino guides, gambling terms, and more – Mike is familiar with all fine points of gambling.
Man on a Slot Machine
Like other states across America, New Jersey has been hard hit as a result of casino closures since the middle of March. The COVID-19 pandemic led to casinos across the country being closed in March, and the properties in New Jersey have now been closed for around three months. This has resulted in huge financial losses at casinos.
However, it has now been revealed that online casino gambling in the state has reached record highs, eclipsing the previous high that was set in April this year. While the casinos in Atlantic City remain closed, online casinos in the state are doing brisk business, with many people turning to online gambling for entertainment.
The latest figures relating to online casino gambling in New Jersey were released by the New Jersey Division of Gaming Enforcement.
The data shows that during the month of May, revenue from online gambling hit close to $86 million. This reflected an increase of more than 124% compared to the same period last year. It was also an increase on the previous record of $80 million from April this year.
As land-based casinos were forced to close their doors in the latter half of March, gamblers were unable to visit casinos throughout April and May. This led to more people heading online in April to satisfy their gambling needs, which then resulted in online gambling in the state hitting record highs.
This demand for online casino gambling has clearly continued and increased in May, leading to a new record high. However, while the figures for online casino gambling in New Jersey are impressive, they will not make up for the huge losses experienced due to casino closures.
After the April figures were revealed last month, Dustin Gouker, lead analyst for Play NJ, said:
The jump in revenue from online casinos and poker is welcome, but there is no way yet for it to fully make up for the revenue lost by Atlantic City’s casinos and sportsbooks.
The bulk of the record revenue generated in May came from online casino gaming, which was up by nearly 123% year-on-year, rising to $81.4 million. Online poker increased by more than 150% year-on-year, increasing to $4.5 million. Together, these resulted in total revenue of nearly $86 million for the month.
Many people who had rarely or never gambled online previously took to online casinos during the lockdown. In addition, those who would normally go to a brick-and-mortar casino also had to use online casinos to gamble. Many believe that this has resulted in an increase in fans for online casinos and that the popularity of these digital facilities will continue to rise.
It is hoped that continued use of online casinos will help casinos and the state to claw back some of the revenue lost due to the global pandemic. While brick-and-mortar casinos will soon be reopening, it will be with strict measures in place, which will hamper their ability to make the same amount of money as they did before the pandemic.
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