Online gambling now a major contributor to Atlantic City revenue
News on 13 May 2017
News on 13 May 2017
The latest (April) numbers from the New Jersey Division of Gaming Enforcement flag another successful month for online activity, which generated $20.8 million in revenue, bringing to $550 million total online revenue since the state legalised internet casino games and poker in 2013. More than $83.6 million in total tax revenue has accrued to the state so far as a result.
Statistics released by the DGE Friday show that April’s online revenue was $900,000 lower that the near-record preceding month of March 2017 but continued to grow at 22.6 percent on a year-on-year basis.
“New Jersey online gambling is on pace to generate a quarter of a billion dollars in 2017, all without taking so much as a nibble out of land-based casino revenue,” said Robert DellaFave, senior analyst for PlayNJ.com. “Regulated online casinos in New Jersey have collectively generated more than $80 million in total revenue through the first four months of 2017.”
The April revenue figure represents a 22.6 percent year-on-year improvement, and is due largely to online casino action, which boosted revenues by 31 percent y-o-y to $18.85 million.
Online poker languished again, declining 23.9 percent y-o-y to $1.97 million.
Golden Nugget-Betfair retained its top spot in the online sector with revenue of $5.4 million, followed by Borgata on $4.2 million, Tropicana ($3.94 million), Resorts-Pokerstars ($3.77 million) and Caesars Interactive ($3.5 million).
Observers have noted that the recently announced MGM Resorts-PartyPoker-GVC alliance with the nascent playMGM brand could have a noticeable impact on the current leader board (Borgata is an MGM subsidiary).
Atlantic City revenue overall was up 5.8 percent year-on-year in April at $211.6 million.
“The win from table games declined last month, in large part because players were luckier this April than in last April,” said Casino Control Commissioner Matthew Levinson. “One thing that is particularly heartening is that for the first four months of the year, revenue from slots, tables and internet each increased.”
