Overall revenue would have been down without online gambling’s contribution
Atlantic City gambling numbers for October released late Wednesday show that overall revenue (land and internet combined) rose 1.7 percent…but analysts have pointed out that without online gambling’s $20.6 million contribution the industry would have suffered a decline of 0.3 percent.
Overall revenues reached $206.3 million, bringing revenues this year to date to $2.2 billion – a 2 percent improvement over last year at the same stage.
Online gambling remained the star of the show for the eighth month running as revenues rose y-o-y 23.4 percent to $20.6 million. On a year-to-date basis revenue from internet operations reached $204.2 million as the sector outperformed previous annual records with two months still in hand.
In October online casino was king, delivering GGR up 30.5 percent y-o-y at $18.63 million. Online poker disappointed again, declining 19 percent to $1.93 million.
Golden Nugget was the top performer with GGR of $6.14 million – its second best yet performance, whilst Borgata trailed on $4.18 million; Resorts Digital recorded $3.47million, Tropicana $3.46 million and Caesars Interactive Entertainment New Jersey $3.31 million.
“Topping 2016’s revenue tally two months before the end of the year is the clearest signal yet that demand for the legal online gambling industry’s products has not yet peaked,” said PlayNJ.com lead analyst Steve Ruddock.
Since New Jersey legalised and regulated online gambling in November 2013, the industry has collected $682.6 million in revenue, contributing $119.4 million to state coffers, including $3.6 million in October.
