(Quora)

New Jersey Witnesses Historic Surge in Gambling Revenue

In January, the state of New Jersey in the United States reported unprecedented gambling revenues. The first month of the year exhibited a significant increase in financial performance, as per data released by the state Division of Gaming Enforcement. Revenue reached a record-breaking $183 million, marking a nearly 20% rise from the previous year.

The sports betting industry also experienced remarkable growth in profits, reaching nearly $171 million, indicating a substantial 136% increase from January 2023.

James Plusis, the chairman of the New Jersey regulator, acknowledged the dynamic shifts in the gambling industry market, leading to a substantial surge in revenues. He attributed the rapid growth of online casinos to external factors, such as the harsh winter, prompting gamers to shift towards online platforms instead of visiting traditional brick-and-mortar casinos.

19 February 2024, 18:30

Finance Gambling USA

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