NJ iGaming Enjoys Record-Breaking Revenues in NovemberDecember 15, 2015 4:30 pm
New Jersey’s online gambling industry has enjoyed a record-breaking month after posting revenues of $13.2 million in November, beating the state’s previous record reported in March this year of $13.16 million. Not only is the latest tally 2.8% more than October’s results, but it is also a whopping 51.3% higher than the $8.73 million generated in November 2014, although back then revenues were hugely impacted by a $1.3 million online slots jackpot won on a Caesars site.
Last month, even online poker saw its business improve 4.3% to $1.95 million year-over-year, with BorgataPoker/Partypoker leading the way with $1,102,595 in revenues, followed by Caesars/WSOP.com/888Poker with $854,918.
The star of the New Jersey’s iGambling industry, however, was its online casinos offering which produced revenues of $11.26 million in November, a 64.1% improvement over the same month in 2014. Consequently, iCasinos have now posted record-breaking revenues for two months in a row.
When revenues from online casinos and poker are added together, the state generated a total of $13.2 million last month, with Borgata accounting for $4,105,463 of revenues; followed by Tropicana with $2,973,127; Caesars with $2,727,301; Golden Nugget with $2,200,820; and Resorts with $1,215,832. The state then received $1,989,163 by way of iGambling taxes.
In the meantime, the Garden State’s eight brick-and-mortar casinos collected $191.1 million in revenues, down 1.4% on last year’s figure. Leading the way in terms of growth was the Golden Nugget up 26.3% ($44.6m); followed by Resorts Casino up 16.4% ($21.1m); Borgata up 7.7% ($49.1m); Tropicana up 5.2% ($14.3m); and finally Harrah’s up 3.6% ($12m). On the other side of the coin, the Trump Taj Mahal’s revenues were lower by 12.8% ($12.8m); followed by Bally’s down 11.7% ($15.2m); and Caesars down 5% ($24.3m).
When land-based and online revenues are combined, however, New Jersey’s overall gambling industry actually saw a slight 0.9% increase in year-over-year revenues.
For the first 11 months of 2015, Atlantic City’s casinos have generated $2.37 billion in revenues, 7.1% down on the same period last year. As a result, the state now looks set to record its ninth consecutive annual decline in revenues, with its last growth reported in 2006, when business peaked at $5.2 billion.