New Jersey considers doubling online gambling taxes
New Jersey lawmakers are proposing a plan that would raise the taxes that operators of online casinos and sportsbooks must pay.Currently, these operators pay taxes...
New Jersey casinos’ Q2 results show a 1.3% decline
Casinos in New Jersey generated US $178.4m in Q2, marking a decline of 1.3% against 2023.
With a population of 9.262 million, New Jersey is a northeastern U.S. state with 130 miles of Atlantic coast. The law allows each state to have 12 casinos and 4 racetracks. Now, New Jersey has nine casinos, all in Atlantic City.
The casinos in New Jersey are:
1. Borgata Hotel Casino & Spa
2. Caesars Atlantic City
3. Golden Nugget Atlantic City
4. Hard Rock Hotel & Casino Atlantic City
5. Harrah’s Resort Atlantic City
6. Ocean Casino Resort
7. Resorts Casino Hotel
8. Tropicana Atlantic City
9. Revel (currently closed)
Talking about the state casinos’ Q2 results, the New Jersey Division of Gaming Enforcement declared a drop in gross operating profit from casinos to US$178.4m, a 1.3% decline against 2023.
Despite a decline in gross revenues, net revenues rose by 1.3% against 2023’s results of $829.8m.
FAQs
How many casinos are there in New Jersey?
There are 9 casinos in New Jersey.
What are the Q2 results of New Jersey casinos?
New Jersey casinos’ Q2 results saw a decline in gross operating revenues of 1.3%, meanwhile, net revenues increased by 1.3%.
What are gross operating revenues?
Gross operating revenues are casinos’ earnings before taxes, interest, depreciation, affiliate charges, amortization, and other miscellaneous things.
What are net revenues?
Net revenues are the total amount a business earns from its operations after subtracting costs like refunds, returns, discounts, and deductions.
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New Jersey bill seeks to double online gambling taxes
A bill introduced by New Jersey senator John McKeon would increase the tax rates on sports betting and internet gambling from their current levels of 17.5 percent and 14.25...
