Although still $300 million down on normal June figures, the state of New Jersey still managed to generate $165 million in the challenging month of June, with online casinos performing even better.
Although figures are significantly lower than last year’s $270M, New Jersey’s June handle managed to increase by approx. $50Mfrom the month of May, producing $1.7M in state revenue.
June is known for being a slow month when it comes to sports betting, so the increase from May to June is seen as a promising sign. July looks even more promising with retail casinos re-opening, major sports leagues resuming, and expected investment into the online casino industry.
Lead analyst for PlayNJ.com. Dustin Gouker, reported “New Jersey will still have longer-term issues. It will take time to recover, and the gaming industry will likely be affected for as long as the world is suffering from this health crisis. But for now, optimism in the industry is growing.”
Interestingly, the strength of major sports bets was due largely to futures betting and is predicted to continue with the lead up to the opening of hockey, baseball, and baseball, meaning that the next couple of months are looking up!