Today’s gaming revenue numbers from New Jersey are a case in point for our times: online gaming and poker numbers soared last month in a pivot to a new virtual world. Online poker revenues were up more than 100% from February 2020, and iGaming revenue overall is up 25% from February 2020 and 65% year-over-year, reaching a new record of $64.8 million.
“These numbers demonstrate how online gaming can be a boon for casinos, state taxes, and consumers looking for regulated and protected online play,” said Jeff Ifrah, General Counsel and Founder of iDEA Growth, a non-profit association seeking to grow jobs and expand online entertainment business in the United States.
The record revenue numbers reported today are not solely an anomaly because of casino closures. They are, in fact, the fourth revenue record broken for iGaming in the past five months.
Every month, online casino games and poker bring the casino industry an alternative revenue stream that allows them to invest in their businesses and employees. Even during a statewide shutdown of the casino industry, iGaming and iPoker are bolstering tax revenues for New Jersey at a time when money is desperately needed to fund needed projects and programs.
Every state that has a casino should be looking at the lead of New Jersey, Pennsylvania and Delaware that had the foresight to modernize their casino industries and bring them into the digital era.
iDEA Growth (iDevelopment and Economic Association) is a 501(c)(6) association which seeks to grow jobs and expand the online interactive gaming business in the United States through advocacy and education. We represent all sectors involved in the growing industry of internet gaming and entertainment, including operations, development, technology, marketing, payment processing, and law.