New Jersey Gaming Revenue Falls Despite Introduction Of Online Gambling

Borgata has emerged as the leading iGaming operator in New Jersey’s newly-regulated market with US$3.3m in a gross win during December 2013, the first full month of regulated activity in the state, but overall gaming revenue in the state in 2013 was down on the previous year despite the introduction of online gambling, the New Jersey Division of Gaming Enforcement (DGE) has reported.

The regulator said that online gaming generated a total of $8.4 million (€6.2 million) between the initial November 21 soft launch date and the end of December, with $7.4 million of this amount accumulated in its first full month of operations in December.

The DGE also reported that overall casino gaming revenue for the year in the state dropped from $3.1 billion in 2012 to $2.87 billion in 2013 – the first time that the figure has dipped below $3 billion in 22 years.

The additional funds generated by online gaming were not enough to boost overall gaming revenue, with New Jersey’s total for the year standing at $2.9 billion, a $180.4 million drop in the previous year.

With overall gaming revenue down, casinos in the state also reported mixed results since the launch of online gaming.

The Borgata Hotel Casino and Spa, which is in partnership with online gaming operator bwin.party, was the most successful casino in New Jersey as it posted year-to-date internet gambling revenue of $3.8 million between the November launch date and the end of 2013.

Borgata said that its online poker business generated $1.9 million, a figure that represented 50.8% of its overall gaming revenue for 2013.

Land-based operator Caesars Interactive Entertainment’s New Jersey operation was the closest challenger to Borgata, recording year-to-date online gaming revenue of $2.4 million.

Like Borgata, Caesars also said that online poker was the main driver for internet operations as it generated $1.2 million, an amount responsible for 50.6% of overall online gaming revenue.

Elsewhere, Trump Taj Mahal managed year-to-date online gaming revenue of $883,037 in the period, while the Trump Plaza generated $427,739.

In addition, Tropicana posted online gaming revenue of $748,589, while Golden Nugget, which was only handed approval for 24-hour online gaming on December 13, generated $179,120 by the end of 2013.

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