Legal gaming in New Jersey had a record month of revenue in July, registering a 10% increase over the previous year. This increase reached an impressive $606.2 million. Meanwhile, Governor Phil Murphy further protected the industry by passing a bill banning casinos with raffles in the state.
Online casino revenue reached a record $247.3 million, a 26.6% increase compared to July 2024. Year-to-date, iGaming has brought in $1.63 billion in revenue, representing a 23.3% increase compared to $1.33 billion in the same period last year.
The New Jersey Division of Gaming Enforcement (NJDGE) reported record numbers, but sports betting revenue saw a slight decline. Sports betting revenue at the state’s casinos, racetracks, and sportsbooks was $74.8 million, a 6.6% decrease compared to the $80 million recorded in July 2024. So far this year, the state has seen a 4% decrease in sports betting revenue.
July marked the first month of New Jersey’s gaming tax rate hike, which rose to 19.75% for online sports betting and casino revenue.
As a result, the state collected $81.7 million in taxes this month. With the previous tax rates of 15% for online casinos and 13% for sports betting, the state would have collected about $16 million less.
Governor approves bill banning lotteries
Lawmakers acted to protect the thriving online casino industry by passing a bill that criminalizes sweepstakes casinos. Bill A5447 passed both houses of Congress in June and was awaiting Governor Murphy’s signature.
Murphy finally signed the bill into law on Friday, which bans any game where players pay for entries to win prizes, including online sweepstakes casinos.
New Jersey becomes the fifth state to pass legislation targeting platforms, following Montana, Connecticut, Nevada and New York.
