Online Gaming sets new revenue records in New Jersey

The New Jersey Division of Gaming Enforcement has released the latest figures for the online gaming sector of the industry. While online gaming has been gaining popularity in New Jersey in recent years, NJ has seen record breaking income of USD 14.6 million in January 2016, a 26.5 percent increase since January 2016, in its iGaming sector.

Poker still declining

The trend for a declining poker industry continues in New Jersey in 2016 and poker fails to bring in high revenues. Online casinos, on the other hand, with their immense and growing popularity, have seen a massive leap in income, which has more than made up for the low returns seen on the poker side of the business. Online casinos have generated revenues of approximately USD 12.5 million, an increase of 34.6 percent while poker managed to gross USD 2.15 million, which is at a loss of 6.4 percent compared to January 2014.

Borgata is leading

Unsurprisingly, Borgata Hotel, Casino & Spa, the largest casino hotel in Atlantic City and the market leader in its sector was the highest earner for online gaming in January 2016. Borgata generated USD 4.6 million, a 21 percent increase from USD 3.8 million in January 2015. Their online casino was responsible for the majority of the takings; USD 3.4 million and online poker brought in USD 1.2 million.

Caesars interactive Entertainment, owners of the World Series of Poker (WSOP) and multiple other social games, saw an income of USD 3.2 million in January 2016, a 16 percent gain in their year-on-year revenues; online casino games accounted for the larger share of the earnings; USD 2.27 million, a 29 percent gain since January 2015, while online poker was only responsible for an income of USD 952,000.

The Tropicana Casino, Hotel and Spa, another luxury facility located on Atlantic City also saw an increase in their online gaming revenues this year; USD 2.9 million, a 14 percent increase.

The Golden Nugget, owned by the Langtry’s Inc., received a total of USD 2.5 million in revenues in the same timeframe, while Resorts Digital Gaming, the online gaming arm of Resorts Casino Hotel, only grossed USD 1.43 million; the site had no comparative figures from 2015 but shows a 10percent increase when compared to numbers from the same time in 2014.

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