New Jersey Casinos Down 6% To $199 million In February

The New Jersey state Division of Gaming Enforcement has released its casino figures for February, revealing a 6% fall in revenues to $199 million, compared to the $212 million taken in the same month last year. The state’s 16 online gambling sites, however, saw a 9% improvement in revenues to $10.3 million, which when combined with New Jersey’s land-based results meant the state’s gambling revenues were down by a more modest 1.4% to $209.3 million.
Excluding online revenues, in February the Golden Nugget Atlantic City reported the most impressive monthly gain of 26% to $12.5 million, followed by the Revel Casino Hotel ($10.9 million) and the Tropicana Casino ($19.7 million) up 20.7% each. Other gainers included the Resorts Casino Hotel up 11% to $9.7 million, and Caesars Atlantic City up 5.8% to $25.6 million.
Conversely, posting declines were the Trump Plaza Hotel down 25% to $3.9 million, the Trump Taj Mahal Casino down 24% to $15.6 million, The Showboat Casino Hotel down 16.5% to $12.2 million; Bally’s Atlantic City down 11.4% to $16.6 million; Harrah’s Resort Atlantic City down 5.5% to $26.3 million, and the Borgata Hotel Casino down 1.6% to $45.8 million.
Turning our attention to the online market, internet casino gambling accounted for $7.2 million in revenues, up 20% from the previous month, while poker earnings slid by 10% to $3.1 million.
Borgata Hotel Casino (partypoker) continues to control the market with a 40% share worth $4,085,444 in February, followed by Caesars Interactive (WSOP.com, 888 and Caesars properties) with 32% of the NJ market worth $3,335,470, and The Tropicana (Virgin) with a 13.1% market share worth $1,345,138.
Worryingly, however, The Taj Mahal (Ultimate Casino) saw its revenues plummet by 32% to $587,323, whilst the Trump Plaza (Betfair) also declined by 11% to $493,590. Commenting on the Trump Entertainment Resorts’ downward trend in February, Global Gaming Business analyst Roger Gros, said:
“Frankly, the Trump properties just aren’t doing a good job right now. Ultimate and Befair were basically unknown in New Jersey and had their hands tied not being able to use the Trump name. Brands are very important in attracting players.”
In total, The Garden State’s internet gaming business has raked in $19.7 million for the first two months of 2014, with around 250,000 people having created online gambling accounts since the first site opened back in November 2013.