Despite an explosion in the volume of online gambling in the states, both Pennsylvania and New Jersey gambling have fallen dramatically during the pandemic… losing nearly $300 million in revenue. Things were not any better in Delaware. Despite online gambling indeed skyrocketing in all three states, newly released data show it wasn’t nearly enough to offset massive losses from traditional casinos.
Pennsylvania, New Jersey and Delaware allow regulated online gaming, including poker, roulette and slots. As casinos across the country went dark under the Coronavirus last month, eyes turned toward those digital life rafts: could they ride out the storm? According to the first financial reports released since the closures, the answer is a resounding “No.”
In Pennsylvania, total gambling revenues fell from $304 million in February to just $153 million last month after the state’s 12 casinos were all shuttered March 16. Add that loss to a $124 million drop off from February to March in New Jersey, and a staggering $274 million in likely revenue was lost in just 16 days across the two states.
New Jersey gambling, where all of the state’s nine casinos are located in Atlantic City, total gambling revenues dove 44% in March compared to a year earlier. Online gambling again offered a silver lining, increasing by about two-thirds compared to the same time last year. But as in Pennsylvania, overall tax revenues still dropped precipitously last month, with about $8 million less flowing to public coffers in March than in February.
You can read more about these figures at the Ellwood City Ledger.