Internet gambling revenues continue to rise in New Jersey
Gross gaming revenues up 8% to US$10.3m in the Garden State driven by growth in online casino
Regulated internet gambling generated gross gaming revenues (GGR) of US$10.3m in New Jersey in February representing an 8.4% increase on the previous month according to figures released by the state’s Division of Gaming Enforcement.
The month-on-month increase was much less than in January, where GGR rose 28%. The number of new accounts created dropped from 72,000 in January to around 50,000 in February, taking the total to 248,241.
Revenues were driven by an increase in money wagered through operator’s online casinos, overtaking internet poker for the first time for market leaders the Borgata and Caesars. Total internet poker revenues for the month were $3.1m or 30% of total win, compared with online casino which generated $7.2m.
The Borgata continued to reign supreme in the Garden State, generating GGR of $4.05m in February with $2.5m coming from its online casino sites and $1.5m from its internet poker sites run with platform partner bwin.party through its PartyPoker brand.
Borgata CEO Keith Smith said he was pleased with the Borgata’s position in the market and that the launch of its real-money gaming app for Android had helped increase revenues.
“Boyd Gaming continues to strengthen our position as a leader in online gaming. We were particularly encouraged by the performance of Borgata’s online casino site, which achieved month-over-month revenue growth of 36%, and more than 50% on a per-day basis,” he said.
“Mid-February Borgata launched an Android-compatible app that can access 3G and 4G networks, making it more convenient than ever to play at Borgata. We have migrated our entire suite of IGT game titles to this app, ensuring that our mobile gaming experience meets the high expectations that players have for the Borgata brand,” Smith added.
Caesars Interactive which operators the World Series of Poker and CaesarsCasino sites in the Garden State, came in second place with revenues of $3.3m. Poker sites active under its licenses “ including 888.com “ attracted revenues of $1.5m compared with $1.9m for its online casino product.
Third in overall GGR was the Tropicana which saw a 60% month-on-month increase to $1.4m, boosted by platform partner Gamesys launching its Virgin Casino branded site in January.
Next was Trump Taj Mahal ($587,323) followed by the Trump Plaza ($493,590). The Golden Nugget also saw a 60% month-on-month increase but generated the lowest GGR a $460,121.
Research firm Eilers predicts that GGR in New Jersey will grow 7% -12% month-on-month in March to generate revenues of $11 “ 11.5m.