NJ Collecting More Taxes From Online Casinos Than Brick-And-Mortar
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NJ collects more taxes from online casinos than from the Atlantic City casinos. Sports betting is a less lucrative industry for New Jersey than gambling. The state took in $1 billion in bets in a single month. More than 90% of that figure came from mobile sports betting. The other 10% came in the form of 8.5% tax on revenues from retail sportsbooks.
Online casino gaming in New Jersey produced $988.7 million for operators in 2021. The total tax haul for New York for the calendar year should be close to $500 million. Borgata, Golden Nugget and Resorts are big players in online casino tax payments for 2021, with each casino having multiple operators as partners.
Borgata, Hard Rock, Ocean, and Caesars casinos are the most profitable casinos in New Jersey. The Meadowlands Racetrack's sports betting revenue accounted for 50% of the state's overall sports gambling revenue in September. Freehold Raceway's partnership with Barstool Sports brought it closer to Monmouth Park's $2.9 million sports bettors.
