New Jersey’s legal online gambling Industry slows slightly in April

Business News

New Jersey’s legal online gambling industry posted another strong month in April, but its run of monthly gross revenue records ended.

More importantly for the future of the industry, though, the Supreme Court’s ruling that lifted the ban on sports betting and the beginning of interstate online poker on May 1 shows that the industry’s best days are still ahead, according to analysts at

 “A perfect storm is brewing for New Jersey’s legal online gambling industry,” said lead analyst Steve Ruddock. “Already setting monthly revenue records, the SCOTUS ruling this week and the beginning of interstate online poker, which should help revive the online poker market, will bode well for the industry. Add the expected June launches of the online sites for Hard Rock AC and Ocean Resorts, and New Jersey is at the forefront of an expanding market.”

New Jersey online casinos generated $23.02 million in April gross revenue, the second-best mark in history. That is down 10 percent from the record $25.6 million from March, but up 10.6 percent from April 2017.

“After three consecutive record months, a slowdown was to be expected, with most of the decline chalked up to seasonality,” Ruddock said.

New Jersey’s U.S. Supreme Court win also paves the way for sports betting in the state and beyond.

New Jersey will likely be the first state to introduce regulated sports betting following the Supreme Court ruling,” Ruddock said. “The state has been preparing for this day longer than any other, and is likely to have full-fledged sports betting available before the start of the NFL season.”

Some other important metrics from the April report: New Jersey is on pace to tally $277.7 million for the year.The industry generated $767,292 per day in the 30 days of April, down from the record $825,168 per day in March. New Jersey online casinos paid $4.03 million in taxes to the state in April.