Since New Jersey online casinos started offering services in 2013, the Division of Gaming Enforcement has presented revenue reports based on the license holder. We could see the full earnings reports but not an individual operator breakdown.
That is all about to change as the state’s gaming regulators have decided to reveal individual operator earnings. Each skin will be reported, giving us an inside look at who the top operator is and who might fall short.
Starting this month, the Division of Gaming Enforcement will present the revenue reports individually. We will no longer see reports from license holders, which may completely change the game when it comes to the top monthly earners.
The figures will start on April 16 with March reports, and the DGE plans to release the January and February reports again to show the individual earnings. This will provide a new level of detail.
The DGE stated that with more detailed information on a skin-level, the stakeholders and public will better understand the individual iGaming and sports betting performances.
In the past, we have had to consider the top earners based on licensing holder groupings. With individual reports, we will be able to see who is actually bringing in the most earnings for the state per month.
In the past, speculation has suggested that FanDuel Casino is the top operator in the state. Analysts feel that FanDuel has helped Golden Nugget hit higher earnings. It is pretty clear that FanDuel Sportsbook is helping the Meadowlands Racetrack hit higher-earning goals, but is it the same for the casino?
In just a few days, we will be able to see who has the most earnings and if they can keep the top spot. Will certain brands stand out above the rest? Who will make the end of the list? It’s quite interesting to consider the options, and it may bring even more competition to the state as operators try to make it to the top three positions.
This is an exciting change to the New Jersey legal online casino market as it provides more insight into how each operator's skin is faring. Seeing how the operators land on the revenue list may be surprising.
As we learn more about the new reporting process for NJ online casinos, we may also soon see an increase in the tax rate for online operators. Senator John F. McKeon recently introduced S3064, a bill that would increase operators' tax payments on sports betting and casino games.
Currently, casinos pay a 17.4% tax and sportsbooks pay 14.25%. If the bill passes into law, the amount will be boosted to 30%. This will considerably lower revenue earnings, as the tax payment would double.
It is unclear why the Senator wants to see the large increase and what he tends to gain from the higher payments. Will funds go to education or perhaps senior citizens?
The senator will need to get full support to see this type of change in the gambling industry. The New Jersey Casino Association is not in favor, and of course, the casinos do not want to see the change either.
It would not be surprising to see the bill squashed before it even starts if the Association and the casinos fight back with lobbying efforts. Lawmakers tend to side with casinos on most matters as they are big revenue drivers for the state. New record highs are hit regularly, and any disruption, such as a tax increase, may be seen as a negative to the industry.
Having started in 2005 as an online writer, Sadonna has focused on the online gambling industry, with a keen knowledge of various subjects. Sadonna has followed the growing US-based gambling industry for decades, covering all the legal changes in the nation as well as information on land-based and online casinos. She enjoys updating fellow gamblers on new games, casino bonuses, and additional information for premium gaming services. In her spare time, Sadonna loves spending time with her family and singing on Smule. Sadonna hopes to continue working in the online gambling industry and building quality articles for players to learn more about the US market.
