New Jersey iGaming Totals Up Big For June 2024
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New Jersey iGaming totals just keep marching along.
The New Jersey Division of Gaming Enforcement reported the Garden State’s iGaming operators won $186.8 million in June, an increase of 25.2% when compared with June 2023 totals.
At the state’s 15% iGaming tax rate on gross gaming revenue, New Jersey took in more than $28 million in revenue for the month on iGaming.
Golden Nugget Tops for the Month
The New Jersey Division of Gaming Enforcement now provides individual operator totals as part of its monthly reports.
The Golden Nugget and its five tethered operators reported more than $51 million in iGaming revenue for June 2024, an increase of more than 23% compared with its June 2023 totals.
Its operators reported the following totals:
- Golden Nugget Online Gaming: $7,920,420
- FanDuel Casino: $35,975,523
- BetRivers: $6,944,975
- Betway: $396,223
- Jackpot City: $393,831
The Golden Nugget accounted for $7.7 million in iGaming taxes to the state, more than 25% of the June revenue total.
Resorts Digital and its five tethered iGaming operators nearly matched the Golden Nugget total, reporting more than $48 million in iGaming revenue for the month, an increase of 36.4% from its June 2023 totals.
DraftKings Casino accounted for more than $41 million of the iGaming revenue total for the month. ESPN BET lagged behind the gaming company giant, reporting just a little more than $3.2 million for the month.
The operator totals are as follows:
- Resorts Casino: $1,836,820
- Mohegan Sun: $1,080,729
- PokerStars: $1,377,285
- DraftKings: $41,033,491
- ESPN BET: $3,265,337
Resorts Digital’s tethered operators accounted for $7.28 million in tax revenue to the state for the month.
Other notable operator totals for June 2024:
- BetMGM: $22,314,799
- Borgata: $17,853,987
- Caesars: $11,344,088
- Hard Rock Bet: $9,593,197
- BetFanatics: $1,844,790
New Jersey iGaming Tax Increase?
While New Jersey consistently brings in solid iGaming tax revenues month after month, the state features one of the lowest tax rates of 15% in the country.
One legislator is hoping to change that this session.
Sen. John F. McKeon (D-27) introduced a bill in April to effectively double the state’s iGaming tax rate.
His legislation, S3064, increases both the state’s sports betting and iGaming tax rates to 30% of gross gaming revenue. The state’s sports betting tax rate is currently at 13% and its iGaming rate is 15%.
If approved, New Jersey would be among the highest taxed states in the country for sports betting and iGaming.
However, the legislation has not moved out of committee since being introduced. The bill has remained in the Senate State Government, Wagering, Tourism & Historic Preservation Committee since April and has not yet been publicly heard.
There may be little momentum for the legislation this session.
Robert Linnehan
Covering regulatory developments in online gambling. Editing/writing/creating a newsletter for readers across all formats.
