15.2% Growth in New Jersey Gambling Market
The Gaming Enforcement Division in New Jersey released their financial results for the month of March this week. The division states that online gambling grew by 15.2% during the month with New Jersey online casinos being able earn a total of $11.9 million in revenue, which is a $1.6 million increase in profit compared to February of this year.
Out of the total amount earned by the states gambling industry, Online Poker was able to earn $3.2 million and Table games and slot machines were able to bring in $8.6 million in revenue. The Borgata Online Casino continued to remain as the number one casino in New Jersey relating to online play. They held 33% of the market, earning them a total of $4.39 million, while Caesars Casino came close with 31% of the market and saw profits of $3.7 Million.
Currently there has been just shy of 300,000 player accounts registered within New Jersey. This is evidence that people in Jersey are embracing online gaming as the state now exceeds Nevada and is in the number one spot for revenue generated from online play.
Even though online gambling is becoming increasingly popular in New Jersey, land based casinos that still operate in Atlantic City continue to struggle. This March saw land based casinos down in profit by 2.2%, only earning a total of $233.5 million. This is still an impressive amount of money that the online sector can’t compete with but it does show the state is still doing well in relativity to the gaming industry.