New Jersey online poker posts record revenues in MarchApril 16, 2020 5:16 pm
The COVID-19 pandemic that shuttered brick and mortar casinos has been a boom in revenues for New Jersey online poker and other forms of state gambling.
The New Jersey Department of Gaming Enforcement released the March revenue numbers earlier this week and online poker revenues set new records. The online poker revenues in New Jersey for March came in at $3.6 million. That topped the previous high of $3.4 million which was set way back in January, 2014.
What are the New Jersey online poker numbers for March?
The March 2020 numbers were also up considerably when compared to the revenue numbers from March 2019. In March 2019 the New Jersey online poker revenues were only $1.9 million. That’s an increase of more than 90 percent for 2020.
The shutdown of casinos in New Jersey took place midway through the month of March so officials are expecting the record-setting revenues that were set in March to be broken in April.
There were also huge revenue increases for online casino games in New Jersey. In March revenue from online casino games was up nearly 65 percent from the previous month at $61.2 million. The only online gambling revenue that saw a decline was online sports betting which dropped 58 percent to $13.1 million.
With most sports leagues shutting down during the month of March this drop in revenue was expected.
Having to close midway through the month hammered revenue generated by New Jersey’s nine brick and mortar casinos. In March 2020 the reported gross gaming revenue for the casinos was $163.5 million. That was a 44 percent drop when compared to March 2019. It also snapped a 21-month long streak of revenue growth for gaming revenues in New Jersey.