Land-based casinos suffered a huge blow during the coronavirus pandemic. Many have now reopened, with social distancing rules in place. But at the peak of the pandemic, 94 per cent of land-based casinos in the US shuttered their doors –the American Gaming Association said that this had an unprecedented impact on American workers in the casino industry, with 96 per cent of the total US casino workforce affected.
The closures put nearly $59bn in total annual pages at risk and affected small businesses – as casino gaming provides $52bn annually to other businesses in retail, wholesale and manufacturing. The AGA also estimated casino closures cost the economy more than $20bn.
Unlike land-based casinos, online casinos enjoyed good business in the US, despite – or because of – COVID-19, including those in New Jersey.
Online casinos became legal in the Garden State in 2013. Since then, the industry has flourished, in turn making New Jersey one of the biggest regulated online gambling hubs in the US. Players have various entertainment options to choose from – including thousands of slots, bingo, keno, power, casino games and more.
This year has been especially prosperous for online casinos in New Jersey – as reported by CasinoTopsOnline, in March, online casino and poker operators reported a staggering $64.8 million in revenue – some $13 million more than the previous month. That translates into an impressive 65.6 per cent increase year on year.
Of course, this increase in revenue was helped by the closure of Atlantic City casinos, which was ordered by governor Phil Murphy. Yet as in most sectors, the retention value of new customers is usually high – so that is certainly good news for New Jersey’s online casinos.
New Jersey also had an anniversary to celebrate earlier this year – its two-year anniversary of legal sports betting in the state. On May 14, 2018, the US Supreme Court dismissed the Professional and Amateur Sports Protection Act as unconstitutional – and one month later, on June 14, the first legal sports wager in New Jersey history was placed at Monmouth Park, but governor Murphy.
Since then, sports betting has also become headline entertainment in the state – just consider that in 2019 alone, Garden State sportsbooks took in $4.5 billion in wagers. And even when sports shut down during the COVID-19 pandemic, online operators were still pulling in bets – New Jersey’s sportsbooks took in almost $182 million in March, admittedly a third of its expected handle of $550 million.
But while sportsbooks took a bit of a hit, online casinos made up for that loss. And that can only encourage the lawmakers in other states to consider following suit.
Disclaimer: Gambling can be harmful if not controlled. Please play responsibly. For more information visit https://www.gamcare.org.uk.