NJ Experiences All-Time High In Online Poker Revenue

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With the coronavirus making its means to American soil and closing down brick-and-mortar betting, online poker surged to record levels in the Garden State in March.

Gov. Phil Murphy introduced that Atlantic City would shut down all of its brick-and-mortar casino a month earlier, which forced bettors online as well as produced record levels of revenue.

Online poker brought in $3.6 million in earnings, one of the most in state’s background. The previous document was $3.4 million from January 2014. It’s a whopping 90.6 percent increase year-over-year after March 2019 just produced $1.9 million from the online felt.

It is essential to note that the gambling enterprise shutdown was only for half of March, so April’s online earnings will likely smash this record.

Online poker games brought in $61.2 million, while online sports betting tallied $13.1 million in earnings. The online casino numbers were up 64.4 percent, but the sporting activities betting numbers represented a 58.4 percent decline. Most of New Jacket’s sports betting is done on-line anyhow and all major American professional sports ceased running around the very same time as the casino shutdowns.

During the more than two weeks that casinos were open, however, the state’s nine casinos generated $85.5 million, according to numbers released by the New Jersey Department of Gaming Enforcement. It brings the gross gaming revenue from all New Jersey outlets to $163.5 million.

The figure represents a 44.4 percent decline from March 2019. The decline came as expected as soon as the online casinos were closed. The falling profits snapped a 21-month touch of enhancing gaming profits in New Jersey.

“As a surprise to no one during this crisis, the March revenue numbers show the dramatic impact of the closures,” chairman of the Casino Control Commission James Plousis told the Press of Atlantic City. “I know that, at this time, the paramount concern for all of the casino licensees in Atlantic City is the safety of their employees and customers. I share their concern.”

Gov. Murphy has yet to announce a date when the Atlantic City casinos will reopen.