New Jersey Online Gambling up 24% to $18.8M in November

New Jersey Online Gambling up 24% to $18.8M in NovemberIn November, Atlantic City’s seven casinos generated $206.4 million in revenue, marking a 4.6% increase compared to the $197.2 million collected in the same month a year earlier. The latest results released by the New Jersey Division of Gaming Enforcement are also the first not to include a year-on-year comparison with the Trump Taj Mahal casino, which shut its doors in October of 2016.
Leading the Garden State’s casino market in terms of revenue last month was the Borgata up 5.7% to $64.2 million, followed by Tropicana with $29.6 million (+4.9%), Harrah’s with $28.4 million (-7.6%), Golden Nugget with $23.6 million (+15.2%), Caesars with $22.9 million (+7.7%), Bally’s with $15.5 million (-4.7%), and Resorts with $14.9 million (+18.6%).
From November’s tally, online gambling then accounted for $20.6 million of revenue, higher by 3.5% versus the previous month, and by 20% over last year. Whilst representing impressive growth, the monthly figure is still the second worst reported this year.
Generating the lion’s share of revenues was the online casino segment with $18.8 million, up by 4.3% from October, and by 24.6% from last November. Furthermore, the vertical has been going from strength to strength, and has now recorded a second consecutive month of growth after a record high of $19 million was set in August.
The casino segment also helped to offset falling revenues returned by online poker which dropped by 3.3% to $1.8 million compared to the previous month, and by 13.1% versus the $2.1 million taken in November of 2016. With poker revenues continuing to slide despite the presence of PokerStars in the market, all hopes for the sectors recovery will now firmly be pinned on the liquidity sharing deal agreed between New Jersey, Nevada and Delaware in October, with the possible inclusion of Pennsylvania a little later down the line.
With December’s result just to come, New Jersey’s casinos have generated revenues of $2.45 billion so far this year, which is currently 2.4% above the same period of time in 2016. The encouraging stats appear to draw a line under a dreadful three-year spell in which five casinos and 11,000 jobs were lost between 2014-16.

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