New Jersey reports revenue fall in October

The DGE announced October’s gaming revenue results that show New Jersey experienced a slight decrease.

The Division of Gaming Enforcement (DGE) of New Jersey revealed that based upon filings, casino win from the industry, including the discontinued operator Trump Taj Mahal, for October was US$185.8 million, a 0.3 percent decrease when compared to the US$186.4 million totaled in October 2016.

With online gaming win totaling US$10.6 million last month, an increase of 23.4 percent over the same period a year before, the industry’s total gaming win for the month was US$206.4 million, up from the US$203 million in October 2016, or a 1.7 percent increase.

Year-to-date numbers indicate that casino win gathers US$2.041 billion through October 2017, which increased if compared to the US$2.036 registered in the prior period, reflecting a 0.3 percent increase.

New Jersey’s regulated online casinos totaled US$20.6 million in October and set an eight consecutive month over the US$20 million mark. With two months to spare in 2017, it hit the US$200 million mark in gross revenue for the year and broke the annual revenue record. Online casinos generated US$204.2 million in gross revenue through October 31 and surpassed the US$196.7 million that was accomplished in the 12 months of 2016.

Total gaming win increased to US$2.245 billion, a 2.2 percent up when compared to he same period last year. The current operators in Atlantic City, excluding Trump Taj Mahal, increased their numbers 0.2 percent to US$185.8 million in October. Total gaming win was US$206.4 million, a 2.1 percent up over the same month last year. Year-to-date information indicate that current operators’ casino win was US$2.041 billion, a 6.8 percent increase, whilst total casino win was US$2.245 billion, 8.4 percent up.

“For the month of October 2017, total gaming taxes were US$16.3 million. Total gaming taxes reflect 8 percent of taxable casino gross revenue and 15 percent of Internet gaming gross revenue. In addition, the casino industry incurred US$2.8 million in Investment Alternative Tax Obligations, which reflects 1.25 percent of casino gross revenue and 2.5 percent of Internet gaming gross revenue,” said the report released by the DGE.