Year-to-date gaming revenue reaches $3 billion
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Measured year to date, New Jersey’s gaming industry took in a total of $2.99 billion, up 84.8% over the prior year’s $1.62 billion. The New Jersey Division of Gaming Enforcement notes that Atlantic City casinos were closed from March 16, 2020 to July 2, 2020. Internet casino gaming and online sports wagering continued, though most sports-wagering events were cancelled during that time.
Total Gaming Revenue for August was $427.7 million, compared with $326.3 million in August 2020, reflecting a 31% increase. Casino Win for August was $262.4 million compared with $199.1 million in August 2020. Internet Gaming Win was $113.2 million in August compared with $87.8 million in the prior period, reflecting an increase of 29.0%. Sports Wagering Gross Revenue was $52.0 million for the month.
For the month of August 2021, total gaming taxes were $42.1 million. Total gaming taxes reflect 8% of taxable casino gross revenue, 15% of Internet gaming gross revenue, 8.5% tax on casino and racetrack sports wagering gross revenue and 13% tax on casino and racetrack sports wagering Internet gross revenue. In addition, the casino industry incurred $6.4 million in 1.25% Additional Tax on sports wagering gross revenue and Investment Alternative Tax Obligations (which reflect 1.25% of casino gross revenue and 2.5% of Internet gaming gross revenue). For the month of August 2021, the Racetrack Economic Development Tax of 1.25% of racetrack sports-wagering gross revenue was $375,023.
