New Jersey Online Gambling Revenues Earn $7.8m in First Month

After launching its first online gambling operations late November, New Jersey’s online gambling market shows promise after earning $7.4 million in December.

It looks like internet gambling in the US state of New Jersey is off to a good start, after the New Jersey Division of Gaming Enforcement released it’s first revenue report on online gambling since its launch back in November.

The state’s online gambling revenue totalled up to $7.4 million, where Borgata, owned in equal share by MGM Resorts and Boyd Gaming, took $3.35 million of the total revenue.

Coming in second place is Caesars Interactive, which pulled in $2.03 million, whereas Trump TajMahal came third place with $825k.

New Jersey online gambling market pulls in $7.8 million in first month of launch

The recent changes to US gambling laws has allowed the state of New Jersey to license online and mobile casinos within the state’s borders. So far, the only other states to take advantage of the law change are Nevada and Delaware.

The tax revenue raked in by New Jersey came to a total of $1.25 million year-to-date. While the state’s initial figures fell bellow the value projected by analysts and Gov. Chris Christie in early 2013, the first month did see a share of teething problems.

Issues included distractions from the holiday period around Thanksgiving and Christmas, geolocation issues, banks and credit card companies unsure on what online gambling transactions are legal and so on. However, many believe the future of online gambling is bright.