{"id":292164,"date":"2023-10-02T10:25:20","date_gmt":"2023-10-02T15:25:20","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=292164"},"modified":"2023-10-02T14:29:41","modified_gmt":"2023-10-02T19:29:41","slug":"atlantic-city-casinos-generate-record-tax-revenue","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/","title":{"rendered":"Atlantic City Casinos Generate Record Tax Revenue Largely Because of iGaming"},"content":{"rendered":"

When New Jersey legalized casinos in Atlantic City more than four decades ago, state lawmakers mandated that gambling would benefit not only the beach region, but the entire state. The state established the Casino Revenue Fund in 1976 ahead of the first Boardwalk casino opening two years later.<\/p>\n

\"Atlantic
The Atlantic City Boardwalk looking south from Caesars<\/a> towards Tropicana. Atlantic City casinos and their online partners directed record tax revenue to New Jersey’s Casino Revenue Fund during the state’s 2023 fiscal year. (Image: Wyndham Hotels)<\/figcaption><\/figure>\n

The Casino Revenue fund is where gaming taxes incurred in Atlantic City and online are directed. The fund also receives casino parking and hotel room fees, forfeited casino and sports betting winnings, regulatory fines, and a special tax on progressive slot jackpots.<\/p>\n

\n

The New Jersey Division of Gaming Enforcement (DGE) reveals that the Casino Revenue Fund during the state’s 2023 fiscal year (July 1, 2022, through June 30, 2023) collected record tax revenue. The account pocketed a little more than $504 million, with gaming taxes accounting for the bulk at $494.86 million.<\/p>\n<\/div>\n

The Casino Revenue Fund assists eligible seniors and disabled residents with property tax reductions and financial help for their rents, utilities, telephones, gas, transportation, and electricity. The spending account also helps seniors and disabled residents with health care services.<\/p>\n

The 2023 fiscal year was the first time since New Jersey legalized casinos that the Casino Revenue Fund received over a half-billion dollars in a 12-month span.<\/p>\n

iGaming Fueling Fund<\/b><\/h2>\n

New Jersey expanded its commercial gaming industry in 2011 with iGaming — interactive online slots and table games. Online casino platforms went live two years later after legal challenges to permitting gambling via the internet<\/a> were settled.<\/p>\n

It took several additional years for online casino gaming in the Garden State to really take off. Before the COVID-19 pandemic, iGaming gross gaming revenue (GGR) totaled $245.6 million in 2017, $298.7 million in 2018, and $482.7 million in 2019.<\/p>\n

When the coronavirus shuttered Atlantic City’s brick-and-mortar casinos, players turned to online platforms, and GGR subsequently soared. iGaming websites and apps won more than $970.3 million from remote players in 2020, and nearly $1.37 billion in 2021.<\/strong><\/p>\n

Online gaming revenue further climbed to $1.66 billion last year, and is outpacing 2022 this year through August by nearly 15%<\/a>.<\/p>\n

The Casino Revenue Fund, initially designed to collect Atlantic City casino taxes, receives 15% of the iGaming revenue. And the increased internet play has significantly benefited seniors and other state residents in need of assistance.<\/p>\n

The Casino Revenue Fund is critical to operating the Senior Citizen and Disabled Resident Transportation Assistance Program,” <\/strong>said Jim Smith, spokesperson for NJ Transit, to the Press of Atlantic City<\/i>. “This program \u2026 provides transportation to senior citizens and people with disabilities and acts as a lifeline to necessities such as non-emergency medical trips, shopping, and nutrition.”<\/strong><\/p><\/blockquote>\n

The Casino Revenue Fund saw its deposits climb 10% from the 2022 fiscal year when it received about $457.6 million.<\/p>\n

Brick-and-Mortar Lagging iGaming<\/b><\/h2>\n

Online casinos continue to grow business, something not necessarily the case with the nine casinos down the shore. While iGaming win skyrocketed almost 22% from 2021 to 2022, Atlantic City brick-and-mortar casino revenue was up less than 2%<\/a>.<\/p>\n

\n

The land-based casino executives continue to stress that not all gaming revenue is equal<\/a> in their minds.<\/p>\n<\/div>\n

Much of the online and sports betting income is shared with their third-party interactive partners, like FanDuel and DraftKings. Online players and mobile sports bettors also do not purchase food and beverages in Atlantic City, stay overnight, or take in a show.<\/p>\n","protected":false},"excerpt":{"rendered":"

Atlantic City casinos and their online gaming and sportsbook partners delivered record tax revenue to the New Jersey Casino Revenue Fund in the 2023 fiscal year.<\/p>\n","protected":false},"author":25,"featured_media":292174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81885,19],"tags":[25,82315,88181,87878,81871,26,13720,88182,80968],"acf":[],"yoast_head":"\nAtlantic City Casinos Generate Record Tax Revenue<\/title>\n<meta name=\"description\" content=\"When New Jersey legalized casinos in Atlantic City four decades ago, lawmakers mandated that gambling would benefit seniors and the disabled.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlantic City Casinos Generate Record Tax Revenue\" \/>\n<meta property=\"og:description\" content=\"When New Jersey legalized casinos in Atlantic City four decades ago, lawmakers mandated that gambling would benefit seniors and the disabled.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-02T15:25:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-02T19:29:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/51500_exterior_view_5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/\",\"url\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/\",\"name\":\"Atlantic City Casinos Generate Record Tax Revenue\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/51500_exterior_view_5.jpg\",\"datePublished\":\"2023-10-02T15:25:20+00:00\",\"dateModified\":\"2023-10-02T19:29:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"When New Jersey legalized casinos in Atlantic City four decades ago, lawmakers mandated that gambling would benefit seniors and the disabled.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/51500_exterior_view_5.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/51500_exterior_view_5.jpg\",\"width\":1200,\"height\":800,\"caption\":\"The Atlantic City Boardwalk looking south from Caesars towards Tropicana. Atlantic City casinos and their online partners directed record tax revenue to New Jersey's Casino Revenue Fund during the state's 2023 fiscal year. (Image: Wyndham Hotels)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Regional News\",\"item\":\"https:\/\/www.casino.org\/news\/regional-news\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Atlantic City\",\"item\":\"https:\/\/www.casino.org\/news\/regional-news\/atlantic-city\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Atlantic City Casinos Generate Record Tax Revenue Largely Because of iGaming\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\",\"name\":\"Devin O'Connor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png\",\"caption\":\"Devin O'Connor\"},\"description\":\"Devin O'Connor is a senior reporter for Casino.org, covering politics, casino business, entertainment and gaming news on the East Coast. Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. Contact Devin at devin.oconnor@casino.org.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/devinoconnor\/\",\"https:\/\/x.com\/CasinoorgDevinO\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/devin-oconnor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Atlantic City Casinos Generate Record Tax Revenue","description":"When New Jersey legalized casinos in Atlantic City four decades ago, lawmakers mandated that gambling would benefit seniors and the disabled.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/","og_locale":"en_US","og_type":"article","og_title":"Atlantic City Casinos Generate Record Tax Revenue","og_description":"When New Jersey legalized casinos in Atlantic City four decades ago, lawmakers mandated that gambling would benefit seniors and the disabled.","og_url":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-10-02T15:25:20+00:00","article_modified_time":"2023-10-02T19:29:41+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/51500_exterior_view_5.jpg","type":"image\/jpeg"}],"author":"Devin O'Connor","twitter_card":"summary_large_image","twitter_creator":"@CasinoorgDevinO","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Devin O'Connor","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/","url":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/","name":"Atlantic City Casinos Generate Record Tax Revenue","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/51500_exterior_view_5.jpg","datePublished":"2023-10-02T15:25:20+00:00","dateModified":"2023-10-02T19:29:41+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf"},"description":"When New Jersey legalized casinos in Atlantic City four decades ago, lawmakers mandated that gambling would benefit seniors and the disabled.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/51500_exterior_view_5.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/10\/51500_exterior_view_5.jpg","width":1200,"height":800,"caption":"The Atlantic City Boardwalk looking south from Caesars towards Tropicana. Atlantic City casinos and their online partners directed record tax revenue to New Jersey's Casino Revenue Fund during the state's 2023 fiscal year. (Image: Wyndham Hotels)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-generate-record-tax-revenue\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Regional News","item":"https:\/\/www.casino.org\/news\/regional-news\/"},{"@type":"ListItem","position":3,"name":"Atlantic City","item":"https:\/\/www.casino.org\/news\/regional-news\/atlantic-city\/"},{"@type":"ListItem","position":4,"name":"Atlantic City Casinos Generate Record Tax Revenue Largely Because of iGaming"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf","name":"Devin O'Connor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-4-1-96x96.png","caption":"Devin O'Connor"},"description":"Devin O'Connor is a senior reporter for Casino.org, covering politics, casino business, entertainment and gaming news on the East Coast. Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. Contact Devin at devin.oconnor@casino.org.","sameAs":["https:\/\/www.linkedin.com\/in\/devinoconnor\/","https:\/\/x.com\/CasinoorgDevinO"],"url":"https:\/\/www.casino.org\/news\/author\/devin-oconnor\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/292164"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=292164"}],"version-history":[{"count":4,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/292164\/revisions"}],"predecessor-version":[{"id":292269,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/292164\/revisions\/292269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/292174"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=292164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=292164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=292164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}