New Jersey enjoys record-breaking tax collection year — thanks to massive growth of online casinos

New Jersey enjoys record-breaking tax collection year — thanks to massive growth of online casinos

Article brief provided by PlayNJ
  • David Danzis, PlayNJ
October 9, 2023 8:35 PM
  • David Danzis, PlayNJ
  • New Jersey

New Jersey online casinos generate the majority of gambling-related taxes collected by the state, according to public reports. For the last three years, internet casino revenue has produced more taxes than all nine Atlantic City casinos.

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The post-pandemic growth of online casinos in NJ and the state’s higher tax rates on all forms of internet wagering have altered the balance. And, based on all currently available data, that change is likely permanent.

In 2022, NJ online casinos contributed more than $249.4 million in taxes to the state’s Casino Revenue Fund. Atlantic City casinos paid over $179.1 million in taxes on land-based gambling revenue last year, according to the state’s Division of Gaming Enforcement.