New Jersey online gambling delivers again

Online gambling numbers again boosted brick and mortar casino performance in New Jersey, according to June figures released Wednesday by the New Jersey Division of Gaming Enforcement.

At $20.23 million, overall June online revenues soared more than 23 percent in the fourth consecutive month of year-on-year gains in excess of 20 percent, whilst land casino revenue remained flat at $197 million. Total revenue was up 1.8 percent y-o-y.

Commenting on the June numbers, DGE chief David Rebuck noted the continuing crucial role online gambling is playing in helping Atlantic City’s casinos survive, saying:

“June’s report reflects continuing overall financial stability within the industry and increasing strength for internet gaming operations. Both factors are positive indicators of the Atlantic City casino industry’s ability to successfully perform in an extremely competitive regional marketplace.”

Matt Levinson, chairman of the New Jersey Casino Control Commission, said that Atlantic City casinos are attracting more business.

“Gaming revenue for the current operators has now increased every month this year compared to last year. So far this year, total gaming win at the seven casinos is up 11.1 percent, with six of the current seven operators outperforming last year,” he added.

Golden Nugget was the growth outperformer, reporting land revenues up almost 23 percent at $23.5 million and online winnings of $5.5 million…well ahead of Borgata’s online $3.8 million.

However, Borgata remained the biggest in terms of revenue at $63.7 million.

The June figures bring revenues from Atlantic City casinos in the first half of 2017 to $1.29 billion, an increase of 3.5 percent over the same period last year.

After studying the DGE numbers, analysts at PlayNJ.com noted that New Jersey’s online casinos have now generated nearly $600 million in gross revenue since online gambling was legalised and regulated in November 2013.

“At its current pace, New Jersey’s online gambling industry will blast past the $700 million milestone before it celebrates its fourth birthday in November,” predicted Steve Ruddock, lead analyst for PlayNJ.com.

“Instead of listening to agenda-driven hypotheticals and what-ifs about online gaming, lawmakers considering online expansion in states such as Pennsylvania should focus on the sustained and prodigious growth occurring in New Jersey.

“The synergies between online and land-based gaming are indisputable at this point, prompting casinos to step-up their commitment to iGaming.”

The state collected tax revenue from online gambling in June of $3.54 million.