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Online Gambling in New Jersey is goin for growth in 2018

Online Gambling in New Jersey is goin for growth in 2018

New Jersey’s legal online gambling industry noticed that 2018 is going to be a remarkable year even if the growth won’t as huge as it was in 2017. This is due to the fact that market is still in development. NJOnlineCasino published “2017 Year In Review: The Performance Of New Jersey’s Legal Online Casinos”. Report contains numbers for 2017 and proves yearly growth of the revenue up to 25% and it’s not a final value. In other words, legal online gambling industry managed to reach a record of $245.6 million in annual gross revenue and of $722.4 million in total.

Key conclusions on 2017:

  • – A quarter of a billion dollars were injected into Atlantic City casinos, online gambling has been regulated, there was a growth of offline casino institutions.
  • – New brands and new games appeared on the market.
  • – Better payment methods, new bands and games in particular will help in revenue growth in 2018.

Author of the report for NJOnlineCasino, Chris Grove, said that regulated online casino and poker websites are profitable and will be improving the economy of New Jersey from year to year.

Online Gambling in New Jersey is goin for growth in 2018

Some interesting findings of the report:

  • – Tax revenue proves the growing importance of the industry. Since November, 2013 legal industry earned $126.5 million and paid $42.98 million into state coffers in 2017.
  • – In 2017 the revenue was 30% higher than it was in the year before.
  • – Revenue from online poker in 2017 was 8.5% lower than it was in 2016.

About online casinos individually:

Borgata Hotel Casino and Spa that consists of Borgata Online Casino, partypoker New Jersey, Pala Casino and have recently launched playMGM Casino online brands remains the leader of the area with $188.2 million of winnings.

  • – Borgata’s revenue in 2017 was $48.5 million in casino games and poker. ($ 41 million and $7.5 accordingly).
  • Casino games were more popular than poker in 2017.
Read also:   Predicted profit growth of 11% in 2017 by W.Hill

Golden Nugget – Atlantic City. It includes Golden Nugget Casino, Betfair – New Jersey and SugarHouse Online Casino brands and gained the revenue of $154.9 million for 2017.

  • – Casino games do all the revenue as poker is not offered here.
  • – Casino revenue grew 62% if to compare with the results of 2016.

Caesars Interactive Entertainment includes CaesarsCasino.com, HarrahsCasio.com and 888 Casino New Jersey brands and had a revenue of $147.6 million.

– Caesars casino games gained a revenue of $36 million and poker – $7 million.

– Casino games of Ceasars’ raised their game revenue up to 20%.

Tropicana Atlantic City Casino & Resort with its Tropicana Atlantic City Online and Virgin Casino brands, gained a revenue of $135.5 million in total.

  • – Casino is focused on games with revenue of $42.6 million.
  • – If to compare the numbers with 2016, Tropicana’s revenue grew 15%.

Resorts AC including Resorts Casino, Mohegan Sun Casino and PokerStars New Jersey brands, gained a lifetime revenue of $81.5 million.

  • – Game revenue was $33.2 million and poker revenue – $9.8 million.
  • – It’s a casino that have shows growth of the revenue for casino games and poker (44% and 12% accordingly).

Hopefully, revenue growth will be observed in 2018 as well. Chris Grove hopes to see more and more coming players, because of the improvements of the software, payment options and new games releases.

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