New Jersey’s online operators report revenues of $21.3 million
For the sixth month running New Jersey online operators reported revenues in excess of $20 million in August, with the New Jersey Division of Gaming Enforcement releasing figures that show revenue of $21.3 million, up year-on-year by 32.4 percent (August 2016: $16.1 million).
Overall land casino win in reported by Atlantic City operators was $223.6 million compared to $229.8 million in August 2016, reflecting a 2.7 percent decrease.
Overall land and internet revenues were $244.8 million compared to $245.9 million for August 2016, reflecting a 0.4 percent decrease.
Digging into the figures, the online casino vertical saw 38 percent year-on-year growth at $19.2 million, whilst online poker declined 4.2 percent to a little over $2 million.
In online market share terms, Golden Nugget again led the field with revenues of $5.19 million, chased by Caesars Interactive ($4.44 million), Borgata ($4.24 million), Tropicana on $3.82 million and Resorts Digital on $33.52 million.
State government coffers benefitted by $3.7 million from online taxation.
Since New Jersey legalised and regulated online gambling in November 2013, online operators have generated $640.6 million in gross revenue and $111.8 million in tax revenue.
Industry writer and analyst Steve Ruddock opined:
“Online gaming has grown into an industry on pace to generate close to a quarter of a billion dollars in 2017. That represents a 20 percent year-over-year increase, and an increase of more than 90 percent compared with what the industry generated back in its first full year in 2014.”
Ruddock noted that August’s figures were probably boosted to some extent by the launch of MGM Resorts International’s playMGM brand, with TEN AC and Hard Rock Atlantic City brands likely to enter the market soon.
For the year-to-date, the New Jersey industry’s casino win increased slightly to $1.640 billion through August 2017 compared to $1.639 billion in the prior period.
Internet gaming win increased 27.3 percent to $163.3 million compared to the prior period.
The Industry’s total gaming gin increased to $1.803 billion, reflecting an increase of 2 percent compared to the first eight months of 2016.
Online Casino News Courtesy of Infopowa
