Online gambling win for New Jersey

Business News

New Jersey has enjoyed a windfall of new tax revenue, Atlantic City has been revitalized, and the regulatory system has been proven a success since the state legalized and regulated online gambling in 2013. “Regulated Online Gambling: Building A Stronger New Jersey” — a new report from NJOnlineCasinos that debunks many of the myths that opponents have used to argue against regulated online gambling — details the overwhelmingly positive data from legalization in November 2013 through March 2017.

The benefits of regulated online gambling in New Jersey have included:

  • $536.62 million in total new revenue for casino operators.
  • $93.91 million in direct tax revenue for the state.
  • More than 3,300 jobs created or supported.
  • A reversal of revenue declines in Atlantic City.
  • Successful implementation of regulations that protect consumers.

“Sweep aside the misinformation spread by agenda-driven critics and a clear picture emerges: Regulated online gambling in New Jersey has been a definitive win for casinos, consumers and the state,” said Chris Grove, a Las Vegas-based gambling industry expert who authored the report.

“Any state looking to New Jersey can draw three clear lessons,” Grove added. “First, regulation works. Second, there is a massive consumer demand for online products. Finally, online gambling supports the health and long-term viability of land-based casinos.”

Nowhere is the positive impact of legalized online gambling felt more than in Atlantic City. Not only has online gambling injected more than $530 million in new revenue, but in 2016 the iconic destination posted its first year-over-year increase in gambling revenue in 10 years.

Importantly, executives from Borgata Hotel Casino and Spa, Caesars Interactive Entertainment and Golden Nugget – Atlantic City have all confirmed in statements that at least 80% of online customers have been new to their casinos. This evidence disposes of one of the chief arguments employed by opponents of legal online gambling: that regulated online gambling siphons revenue from land-based casinos.

“Hard data from the Borgata, Caesars and the Golden Nugget has demolished any doubt,” Grove said. “The online customer is a new customer, one that generates new revenue for casinos. These customers are critical to the turnaround just now starting to take hold in Atlantic City — and they wouldn’t exist without legal online gambling.”