New Jersey iGaming Up 23% to $20.2M in JuneJuly 13, 2017 9:17 am
Since posting a historic high of $21.7 million in March, New Jersey’s online gambling market has gone from strength to strength, and has consistently generated revenue in excess of $20 million each month. Likewise, June was no exception, with the $20.2 million collected higher by 23.4% compared to the same month in 2017.
Responsible for New Jersey’s impressive online gambling numbers is its online casino vertical, which soared by a whopping 23.4% year-over-year to $18.5 million. Poker, on the other hand, continued to see a decline in its popularity with business falling by 11.9% to $1.73 million, marking a new low since the industry was first regulated all the way back in November 2013.
Leading the Garden State’s overall online gambling market in June was the Golden Nugget up by 60% to $5.5 million in revenue, followed by the Borgata up 15% to $3.9 million. Meanwhile, the Resorts/PokerStars partnership saw its business sink by 27% to $3.7 million, while Caesars was up by 30% to $3.6 million, and the Tropicana generated $3.5 milliion, a figure fairly flat compared to June of last year.
Once iGaming is added to New Jersey’s overall land-based casino results, the state actually saw its revenue rise by 1.8% to $197 million last month. Furthermore, omitting the shuttered Trump Taj Mahal from the stats would increase that tally further to 10.8%, and commenting upon the figures, David Rebuck, director of the New Jersey Division of Gaming Enforcement, stated:
“June’s report reflects continuing overall financial stability within the industry and increasing strength for internet gaming operations. Both factors are positive indicators of the Atlantic City casino industry’s ability to successfully perform in an extremely competitive regional marketplace.”
As a result of the contribution made by online gambling, New Jersey has now recorded year-over-year gains for every month of 2017 so far, with total gambling revenue coming in at $1.29 billion for the first half of 2017, representing a 3.5 % improvement over H1 of last year.