On the eve of the fourth anniversary of the legalization and regulation of online gambling in New Jersey, the Garden State’s experiment to pioneer the business has been an unqualified success, according to analysts from PlayNJ.com.
“Four years of information shows us the incredible possible of legal on-line gaming,” said PlayNJ.com lead analyst Steve Ruddock. “Online play has elevated the revenues and consumer bases of New Jersey’s land-based casino operators. And the residents of New Jersey have benefited from being in a position to safely gamble online at regulated sites that protect their monetary information, provide fair games, and promote responsible play.”
From launch on Nov. 26, 2013 through Oct. 31, 2017:
New Jersey’s on-line casinos have collected $682.six million in lifetime gross revenue.
On-line casino games have been the greatest draw, producing $577.96 million (85 percent of the total).
Online poker has brought in $103.1 million (15 percent of the total).
On-line gambling’s gross revenue has poured $119.3 million of tax revenue into state coffers.
New Jersey’s online casinos have generated $204.2 million in gross revenue for 2017 via Oct. 31. Year-over year growth has been a hallmark from the young business:
A projected $248 million in gross revenue during 2017, up 26 percent from 2016
$196.7 million in 2016, up 32 % from 2015
$148.9 million in 2015, up 21 percent from 2014
$122.9 million in 2014, up 1,363 percent from 2013
$8.four million in 2013 (less than two months)
The landscape of the industry has evolved. In November 2013, New Jersey was house to 13 on-line casino and poker brands. As of October 2017, you will find 20 casino and poker brands in New Jersey.
In all, on-line gambling has accounted for nearly ten % of New Jersey’s total casino revenue in 2017. And it seems legal on-line gambling will continue to climb.
“There are two reasons to think 2018 is going to be an additional growth year in New Jersey,” Ruddock said. “First, on-line casinos are showing no indicators of slowing down. Second, on-line poker appears to destined for growth after New Jersey entered into an interstate agreement with Nevada and Delaware, along with the legalization of on-line gaming in Pennsylvania, that could finish a prolonged period of stagnation.”
Other important information points:
Borgata Hotel Casino & Spa, house to the Borgata, playMGM, Party, and Pala on-line brands, leads in total gambling win since launch with $180.7 million through Oct. 31, 2017.
Golden Nugget Atlantic City, home to the Golden Nugget, Betfair, and SugarHouse online casino brands, is second all time with $148.two million.
Golden Nugget amassed $6.25 million in gross income in July 2017, setting the record for revenue generated by a single licensee in a single month.
Caesars Interactive Entertainment, which includes the Caesars, Harrah’s, and 888 brands, is third all time with $142.four million.
Tropicana Casino & Resort, which includes the Tropicana and Virgin brands, is fourth with $129.1 million in lifetime income.
Resorts AC, which includes the Resorts AC, Mohegan Sun, and Poker Stars NJ brands, has generated $83.7 million in lifetime income.
Borgata has generated the most lifetime online poker income at $45.8 million. Caesars follows at $39.7 million, with Resorts rounding out the list at $17 million (Resorts did not launch on-line poker until March 2016).
March 2017 was the high point for total income with $21.75 million and on-line casino income with $19.5 million.
On-line poker’s revenue apex came in January 2014 with $3.4 million.