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Assembly Speaker Craig Coughlin. Photo by Kevin Sanders for New Jersey Globe

Coughlin lauds sports betting a year after its legalization

Gaming brought $23.6 million in tax revenue in May

By Nikita Biryukov, June 14 2019 2:22 pm

Assembly Speaker Craig Coughlin praised the state’s sports betting on the one-year anniversary of its legalization Friday.

“It’s been one year since the first legal sports bets were placed in New Jersey and sports wagering has proven to be an economic success,” Coughlin said. “The gaming industry has added value to our state by creating jobs, new opportunities for hundreds of residents and supporting the New Jersey horse racing industry.

Since the state legalized sports betting, gamblers in New Jersey have gamed more than $2 billion, giving the state millions in tax revenue.

In May, the state brought in $23.6 million from gaming taxes, according to the Division of Gaming Enforcement.

“New Jersey has shown that it can compete with other states and we invite those who live here and are visiting to join in on the fun,” Coughlin said. “Strong growth will continue for the industry, and I look forward to New Jersey leading the nation in sports bets.”

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