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...
NJDGE reports 9% gambling revenue increase in October
New Jersey’s gambling sector experienced a 9.3% increase in its revenue in October.
The NJDGE’s latest market report highlighted a total revenue of 487 million dollars in the month, up from last year’s revenue of 445.7 million dollars. The regulator also reported the market’s revenue in the first ten months of the year, which reached 4.77 billion dollars and represented a year-on-year increase of more than 10%.
Breaking down the figures by gambling types, New Jersey’s online gambling operators were able to generate 166.8 million dollars in the month, up from last year’s 147 million dollars by more than 13%. This increase solidified the vertical as the leader in terms of revenue generation in the state, surpassing land-based slot terminals which generated 163 million dollars, representing a decrease of almost 2%.
Other authorized gambling experiences in the state experienced a slightly higher revenue increase of 13.4%, generating 164 million dollars and solidifying the niche in second place in terms of revenue generation. However, retail table games experienced the largest increase in the period at almost 20%, generating 65 million dollars in the month of October.
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...
