New Jersey iGaming Revenue Hits $21.2M in August

New Jersey iGaming Revenue Generates $21.2M in AugustNew Jersey’s online gambling market generated $21.2 million in August, up by a massive 32.4% compared to the same month last year, and marking six consecutive months of above $20 million revenue for the Garden State.
As has become the established case, online casinos produced the lion’s share of revenue and growth, with business soaring by 38% to $19.2 million year-on-year, while online poker went in the opposite direction, and dropped by 4.2% to around $2.1 million. On the positive side, though, online poker still managed to collect $75k more than the previous month, and continued to stay well above the historic low reported in June of just $1.73 million.
Breaking the figures down further, the Golden Nugget led the state’s iGaming market in August with $5.2 million in revenue; followed by Caesars Interactive Entertainment with $4.44 million (casino: $3.83m , poker: $610k); Borgata with $4.3 million (casino; $3.64m, poker: $650k), the Tropicana’s casino only operation on $3.8 million; and in bottom position Resorts Digital Gaming and its partner PokerStars on $3.5 million, with $2.7m derived from its online casino, and the remaining $822k coming from poker.
Commenting on the overall positive figures, lead analyst Steve Ruddock, stated: “Early revenue projections may have missed the mark, but analysts were right on the money with their predictions that New Jersey online gaming would see sustained growth as the market matured.”
Meanwhile, Atlantic City’s casinos, including online gambling revenue, totalled $244.8 million in August, which is 0.4% lower than the same month in 2016. Back then, however, the now shuttered Trump Taj Mahal was operational, but if the venue is excluded from the statistics, the remaining casinos still running were actually up by 5.5% versus last August. Furthermore, five out of AC’s seven casinos posted growth in August, headed by the Tropicana. As Matthew B. Levinson, CEO of the state Casino Control Commission explains:

“Great summer weather and an improving economy combined to draw more business not only to the facilities in Atlantic City but to their internet operations. When you see improvements like these month after month, season after season, a trend is clearly emerging.”

All told, the state’s gambling market has collected $1.8 billion for the first eight months of the year, higher by 9.2%
versus the $1.6 billion taken over the same period in 2016.

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