New Jersey iGaming Sets Another Record in January 2016

New Jersey’s iGambling industry seems to be going from strength to strength, and after closing out 2015 with record revenues of $14 million in December, the state has started 2016 in a similar fashion and generated a new record high of $14.6 million in January. Furthermore, that figure represents an impressive 25.8% improvement on the $11.6 million that was collected in January last year.

Accounting for the huge gains in year-on-year revenues was online casino games, which reported a 34.6% increase in business to $12.5 million, which helped to offset the 6.4% decline noted in iPoker revenues of $2.15 million.

New Jersey has five land-based casinos which offer online gambling, of which just Caesars and Tropicana offer online poker. In January, Borgata lead the market with $4.6m of revenues, including $3.4m from iCasinos and $1.2m from iPoker; while Caesars was in second spot with $3.2 million in revenues, of which $2.27m was from iCasino games, and iPoker contributed around $930k. Revenues from New Jersey’s other operations was as follows; Tropicana ($2.9m), Golden Nugget ($2.5m), and Resorts ($1.43m).

In addition, Atlantic City’s eight land-based casinos collected $175.5m in January, representing a 5.6% decline from the same month last year, but when iGambling revenues are included the $190.1 million generated represents just a 3.8% contraction in business. Assessing January’s results, chairman of the NJ Casino Control Commission, Matt Levinson, explained:

“January started off strong with the New Year’s holiday weekend, but those gains were erased later in the month when a blizzard dropped up to two feet of snow in Atlantic City’s main feeder markets. As a result, a lot of people just couldn’t get here that weekend.. But the bad weather that kept people home contributed to the 26.5% hike in revenue from online gambling.”

Amongst Atlantic City’s casinos experiencing year-on-year growth in their business last month was Tropicana (+5.8%) with $21.1m in revenues, followed by Golden Nugget (+5%) with $16.7m, Trump Taj Mahal (+2.3%) with $12.4m, and Resorts (+3.1%) with $11.4m. On the flip side was the Borgata, followed by Harrah’s, (-9.6%) with $27.8m, Bally’s (-12.3%) with $13.9m, and finally Caesars (-13.5%) with $20m.