All Time High Revenue for NJ Online Gaming in FebruaryPublished March 17, 2016 by Elana K
he New Jersey Division of Gaming Enforcement (NJDGE) has come out with its online gaming revenue from February 2016: $14.7 million, the highest the state has seen since it legalized online gambling in 2013.
The New Jersey Division of Gaming Enforcement (NJDGE) has come out with its online gaming revenue from February 2016, and operators and pro-gambling legislators were all given a very good reason to be pleased. February’s numbers are the highest the state has seen since it legalized online gambling in 2013, coming to a grand total of $14.7 million, .1 million more than it grossed in January 2016. When compared to February of last year, the numbers reached this February show a 41.8 percent increase, giving all a reason to celebrate.
Leading the way in terms of revenue was Borgata Hotel Casino and Spa, but showing the most year-on-year growth was the Golden Nugget, a momentous milestone for the New Jersey casino.
When online gambling first launched in New Jersey, it got off to a bit of a rocky start, with numbers not reaching anywhere near the projected totals. But slowly the industry has been gaining momentum and growing in popularity, recently resulting in month by month increases.
As a whole, New Jersey’s online gaming market still struggles with bringing in revenue from online poker; while online gambling as a whole is on the rise, online poker has been on the decline. In January of this year, online casino revenue in New Jersey grew by 34.6 percent, while online poker revenue decreased by 6.4 percent.
Operators are not sure why online poker has not taken off the way online casino games have - but they do know that it’s not only a phenomenon of New Jersey. Delaware and Nevada, the only two other states to have legalized online gambling, have also been experiencing increases in overall online gaming revenue but decreases in online poker revenue.
Despite the difficulties online poker is experiencing, the overall online gambling initiative seems to be fairly successful, which may encourage other states to consider implementing their own regulations.