New Jersey Posts Record Revenue in March 2015

Legalised online gambling in New Jersey has performed far below expectations since the industry first opened for business in November 2013. Pre-legalisation forecasting suggested that it would not take long for the industry to be worth a billion dollars, but that has not been the case. Quite simply, operators have struggled greatly in New Jersey’s legal online gambling industry. However, there was recent growth in March.

After comparing financial results between March 2014 and March 2015, it was evident that revenue increased by 10.8% on the previous year. The March 2015 gambling revenue of $13.2 million was also notable because it marked a record-breaking return for the industry.

From the $13.2 million generated last month, online casino games accounted for an $11 million share, which was a 26.2% increase on 2014. Comparatively, the $2.2 million generated by online poker marked a 30.6% decline since last year. Online casino games are succeeding while poker is currently in a downturn.

Borgata the Best Performer

Borgata was one of the strongest performing online gambling operators in March, earning $4.2 million worth of revenue from a stable of brands that included Borgata Casino, Borgata Poker, Party Poker, and Pala Casino.

Golden Nugget was another operator that performed well, earning $3 million in conjunction with its partner Betfair. Tropicana is another New Jersey operator that is aligned with an international partner. The land-based casino managed to earn $3 million with Virgin Casino.

Caesars is an operator that has been struggling in the wider gambling industry for some time now. However, Caesars managed to earn $2.8 million from 888 and WSOP.com.

Land-based casinos in Atlantic City earned $190 million in March, but that was a loss of 13.9% on the $221 million from March 2014. A number of casinos have closed since then, including the likes of the Atlantic Club and the Trump.