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Remote Gambling Revenues in New Jersey Note a Growth
- July 15, 2015 By Oliver Young -
The US state of New Jersey has finally received some good news; turns out that the state’s online gambling sector continued its growth in June, 2015, according to the latest report published by the New Jersey Division of Gaming Enforcement.
Remote gambling win has noted a growth of 22.8% in comparison with June, 2014. Therefore, if the state made $9.5 million in June 2014, this year the same month has marked a win of $11.6 million. However, the total gaming win has fallen for 8.2% reaching $216,535,040. In 2014, land-based and online gambling managed to accumulate $235,980,675.
Online poker took only 15.73% of the total internet gaming win, whereas the same number last year was higher 22.20%. As a result, online poker revenues noted a fall as well. Therefore, from $1.94 million in May, 2015, the revenues fell for 4.7% to $1.84 million.
However, online casino revenues saw a sharp rise of 19.8% year-on-year in June reaching $9.33 million. Over the first half of this year the total remote gambling revenues in the state have noted a growth of 14.2% y-o-y.
Borgata – Party Poker – Pala Best Performing Online Operator
The partnership between Borgata – Party Poker – Pala has proved very successful and it is continuously leading the list of best performing online gambling operators in New Jersey. The total market share they hold is high 29.6%; nevertheless, this number is lower for 2% than the one from the previous month. The total revenue this partnership managed to earn was $3.55 million, which is about $400,000 lower than last month’s revenues.
The second place is reserved for Caesar’s Interactive, which holds 22% of the online gambling market with its total revenue of $2.64 million. Tropicana noted a growth of 1.9% with its casino games only offer and conquered 21.9% of the market. Tropicana reported revenues of $2.56 million.
The Golden Nugget alliance with BetFair holds the fourth place with 21.2% market share and $2.53 million in revenues, while Resorts online casino holds modest 3.45% market share with its $400,000 revenue.
Licensed Online Gambling Operators Generated Revenue of Almost $72 Million
According to the numbers provided in the report by the NJDGE, US licensed online gaming operators in New Jersey have generated revenue of almost $72 million YTD. This number is better than the revenues for the first six months of 2014 for 14.2%.
Obviously, casino revenues are growing, whereas poker revenues are falling. Nevertheless, these numbers are giving hope that online gambling in New Jersey will finally start evolving as it was first expected.
Earlier this year, in January, there have been talks that the industry is not growing as fast as it was planned after the one-year online gaming report for remote gambling activities in New Jersey was released.
In the meantime, as US online casinos are reaching new heights, online poker players are impatiently waiting for the NJDGE to issue the long awaited approval for Amaya Gaming’s popular brand PokerStars which is expected to boost the falling online poker industry.