Jake Banks | 20 Feb 2018

New Jersey Sets New Online RecordThe state of New Jersey, which ascribes to a regulated online gambling market policy, set a new record during the month of January. Recent financial figures released by the New Jersey Division of Gaming Enforcement confirm that New Jersey’s online gambling licensees generated revenue to the tune of $22m in January, which is much higher than the previous year.

The announcement surprised many in the industry, especially after the world of online poker had appeared to have fallen flat on its face, according to the publication of confirming it was on a rapid decline.

The casino vertical however, had seen an increase of 21.4%, further extending the popular market’s $20m+ revenue streak to a whopping 11 consecutive months.

New Operator Records

The Golden Nugget group of online casino sites, which includes GoldenNuggetCasino.com and BetfairCasino.com, set an individual operator record of $7.3m, bettering the Nugget group’s previous record of $6.25m, which was recorded in July of last year.

The Golden Nugget’s sterling feat represents the very first time that an individual operator’s revenue has exceeded $7m.

Second place went to the Borgota family of operating sites, with revenue income confirmed at $4.15m.  Resorts Digital Gaming came in 3rd, having generated a cool $3.9m. Resorts Digital Gaming’s figures include $817k, which was generated by online poker.

In 4th place was Caesars Interactive Entertainment New Jersey, having generated $3.35m, of which $2.85m were generated by general casino and $507k by poker.

New Kids On The Block

It will be interesting to see in what condition the online market will close at the end of this year. The online gambling landscape is expected to become more populated this year, even crowded, with the addition of two new gambling licensees.

Hard Rock International is currently revamping and remodelling the Trump Taj Mahal casino into the new and improved Hard Rock Atlantic City. The hotel and casino will be situated on 17 acres of land back-dropped by Atlantic City Boardwalk and promises to be the ultimate Mecca of gaming and entertainment.

Hard Rock International recently announced that it would be launching a new online gambling platform in partnership with Gaming Innovation Group. The new platform is expected to go live sometime later this year.

AC Ocean Walk is also in on the online money, having recently announced a proposed deal with GAN, a provider of online technology. The partnership is expected to yield a real-money online gaming platform by June.

Source:
https://calvinayre.com/2018/02/14/business/new-jersey-golden-nugget-set-online-gambling-revenue-records/