New Jersey Casinos Up 2.2% to $2.66Bn in 2017

New Jersey Casinos Up 2.2% to $2.66Bn in 2017For a decade Atlantic City’s casino market was stuck in the doldrums until it managed to reverse the downturn in 2016 after posting a 1.5% increase in revenues to $2.6 billion. According to the latest results, 2017 has proved to be another positive year for New Jersey, too, with its casinos reporting a 2.2% increase in revenues to $2.66 billion,  marking two consecutive years of growth for the East Coast gambling resort.

Breaking the figures down further, New Jersey’s land-based casino revenues accounted for $2.41 billion of the overall total, representing a 0.3% improvement over the previous year, while online gambling contributed a further $245.6 million in 2017, or 24.9% more than in 2016.

Leading the way in terms of land-based gambling was the Borgata whose $800 million in revenues was higher by 4.4% versus last year, followed by the Tropicana up by 14.6% to $390 million, and then Harrah’s up by 1.6% to $363 million. Nevertheless, all of Atlantic city’s casinos posted positive growth last year, including Caesars up 7.6% to $325 million, the Golden Nugget up 14.4% to $288 million, Bally’s up 0.1% to $211 million, and Resorts up 10% to $190 million.

Meanwhile, The Golden Nugget topped the internet market with $68.5 million in revenues, followed by the Borgata, Caesars, Resorts and Tropicana, whose online revenue all fell within the $42.5-$48.5 million range.

Needless to say, the latest financial results provide an even greater sense of optimism for the year ahead, especially with the expected reopening of the former Revel and Trump Plaza casinos in 2018, which will be renamed the Ocean Resort Casino and Hard Rock Hotel & Casino Atlantic City, respectively, and as Christopher Glaum, deputy director of financial investigations for the Division of Gaming Enforcement, explains:

“With strong growth in Internet gaming win and the anticipated reopening of two former casino properties this summer, I am optimistic that the Atlantic City casino industry can accelerate its revenue growth trajectory in 2018.”

Also agreeing with the sunny outlook is lead gaming analyst Steve Ruddock, who said New Jersey’s progressive internet gambling market would be further boosted by operators currently introducing a range of new, innovative product to attract more players.

Poker News
Spanish Online Poker Revenue Jumps 27% in Q1
03 Jun 2018
In January, Spain and France started pooling their online poker players in an attempt to revive an industry decimated by the ring-fenced policies adopted by their respective governments. If they were ever in any doubt as to the validity of their move, the results for the first three months of 2018 will certainly have allayed
Japan Introduces Responsible Gambling Bill
28 May 2018
Japan’s bicameral legislature, known as The National Diet, consists of an upper House of Councillors and a lower House of Representatives, with the latter having started discussing the Integrated Resorts Implementation Bill last week. Being debated is the regulatory framework required in order to set up an efficient and well functioning casino market in the
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this