NJ Senator calls egaming revenues 'dismal' despite 28% increase
GGR for the month of January increased 28% to US$9.5 with the Borgata still leading the way with a 41% market share
Regulated online gambling generated gross gaming revenue (GGR) of US$9.5m in New Jersey in January, up 28% on the previous month according to figures released by the state’s Division of Gaming Enforcement (DGE)
But despite showing signs of improvement the figures have been called “dismal” by New Jersey Senator Raymond Lesnaik, who says they are a long way off estimates from the likes of Governor Christie who predicted the New Jersey egaming market to be worth $1.1bn within seven months of launch.
“Compared to Governor Christie’s unrealistic projection, the numbers are dismal,” Lesniak told eGaming Review.
“The less than stellar results are a result of PokerStars not being in play, ineffective advertising by internet operators, and banks not allowing their credit cards to be used for internet gaming. I expect those obstacles to be overcome and revenues to steadily grow in the future,” he added.
The Borgata, which has partnered with bwin.party in the Garden State, remained dominant with revenues for the month of January totaling $3.9m, up 16% on December.
Bwin.party’s own PartyPoker site generated GGR of $1.8m for the month, which was surpassed for the first time by its online casino offering which saw revenues hit $2m.
Caesars Interactive, which operates the World Series of Poker and CaesarsCasino sites, remained in second place and saw total GGR increase 49% to $3.03m.
Poker sites active under its licences “ including 888.com “ attracted revenues of $1.52m compared with $1.51m for its online casino product.
Third in overall GGR was the Trump Taj Mahal ($858,351), followed by the Tropicana ($841,5065) and the Trump Plaza ($557,007).
“Our market-leading performance is testament to the quality of our online product and the power of the Borgata brand. These results also once again demonstrate online gaming’s potential to expand our business,” said Keith Smith, CEO of Boyd Gaming which operates the Borgata.
“About 85% of our online players have not had rated play at Borgata in at least two years, showing there is little overlap with our land-based business. Online gaming is growing our database, creating a long-term opportunity to market Borgata to an entirely new group of customers,” he added.
Golden Nugget saw the greatest increase in revenues month on month, with figures soaring 69% to $286,922 following the delayed launch of its platform.
At the other end of the spectrum the Trump Plaza and its online partner Betfair US were still struggling to generate revenues from its online poker platform, recording GGR of just $11 for the month of January.