New Jersey Generates Record Online Gambling Revenue in March

The New Jersey Division of Gaming Enforcement reported on Wednesday monthly revenue figures for Atlantic City’s seven operational casinos as well as for the state’s online gambling operations.

Revenue from the state’s brick-and-mortar properties amounted to $200.1 million in March, up 6.7% from a total of $187.5 million reported for the same month a year earlier. Here it is important to note that there were eight operational casinos in Atlantic City this time last year.

The city saw five of its twelve gambling venues close doors in the period between 2014 and 2016, and Trump Taj Mahal was the last to be shuttered in October 2016. Excluding March 2016 revenue from the property, casino win increased 14.9% year-on-year.

March 2017 was particularly strong month for New Jersey’s online gambling industry. Internet gaming operations generated record revenue of $21.7 million last month, reflecting a massive 40.2% increase from a year earlier. The figure was the highest ever posted since first iGaming websites went live in the state in November 2013. What is more, March 2017 was the first month when iGaming win surpassed the $20-million mark.

Land-Based Operations

The Borgata once again grabbed the biggest share of the state’s land-based gaming market. The casino generated revenue of $64.3 million last month, up 10.9% from a year earlier. Tropicana was the casino to report the biggest increase in monthly revenue. Casino win at the property was up 37.6% to $35.2 million in March.

Caesars also saw a massive increase in monthly revenue. The gambling venue generated a total of $29.2 million, reflecting a 31.9% jump from the same month in 2016. The Golden Nugget saw a 14.2% increase in monthly revenue to $22.7 million. Revenue at Harrah’s was up 3.7% year-on-year to $29.6 million. Resorts’ casino win rose 25.3% to $16.3 million.

Bally’s AC was the sole gambling venue to report a revenue decrease for March. The property generated casino win of $17 million, down 2.2% from $17.4 million in March 2016.

Internet Gambling

In terms of iGaming, casino games were the ones to generate the greater portion of the $21.7 million reported for March. Revenue from online casino games totaled $19.5 million last month, up 49.4% from a year earlier.

Revenue from online poker totaled $2.3 million, down 8.5% year-on-year. Here it is important to note that it was last March when PokerStars launched its New Jersey website in partnership with Atlantic City’s Resorts. Initial interest boosted online poker revenue last year, but it now seems that the effect has worn off.

The Golden Nugget’s online gaming division was the state’s most profitable iGaming operation as seen in a report by PlayNJ. The casino scooped a 28.4% share in the local online gambling market, followed by Tropicana (20%), and Resorts (19.3%).

Year-to-Date Casino Revenue

New Jersey’s casinos generated a total of $631.9 million during the first quarter of the year, up 5.7% from a year earlier. Excluding Trump Taj Mahal, total gaming win rose 12.8% year-on-year. Revenue from land-based operations totaled $572.6 million, up 3.6%. Excluding Trump Taj Mahal, casino win increased 11.2%. Online gaming rose 32.1% to $59.3 million.

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