New Jersey Gambling Revenue on the Rise [...]
New Jersey Online Gambling Venues See Strong June Results
- July 14, 2016 By Nemanja L. -
The New Jersey online gambling market has seen some strong results in the first summer month, as the trend of increased revenue during the summer continued.
Not even the poor performance of online poker rooms could hurt the overall profit margin as the New Jersey Division of Gaming Enforcement (DGE) published their report on Wednesday.
The figures showed that the regulated online gambling market had generated $16.4 million in revenue, which is a 40.6 percent increase when compared to June 2015, albeit slightly lower than the revenue recorded in the previous month.
Online Casino Revenue Continues to Increase
The spike in earnings owes it much to the constant uptrend of online casino websites that generated whopping $14.4 million, 46.8 percent higher than the same month last year. The poker vertical also enjoyed better results than the previous year, although rising mere 7.3 percent to $2 million.
And while casino earnings tend to rise in summer months, just the opposite happens with online poker sites that had earned $600,000 more in May 2016. The results get a new dimension when we know that PokerStars website had not been operational in June 2015.
Said website posted earnings of $778,000, thus outclassing other poker sites in New Jersey, but, by their standards, the result was far from impressive.
PokerStars Struggles But Still Leads the Way
Namely, June 2016 was PokerStars’ worst month since the site launched in March and well below the $1.18m record earnings in April.
GVC Holding’s Borgata websites remained top of the pile, earning just shy of $3.8 million, $3.2 million of which accounted for online casino revenues.
Caesars Interactive Entertainment earned around $3 million to remain in second place, while the two New Jersey casino-only websites also enjoyed strong results.
Golden Nugget and Tropicana finished the month at $3.5 million and $3.35 million respectively, whereas Resorts Digital Gaming pocketed $1.9 million on casino revenue to bring their total earnings to $2.7 million.
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