New Jersey Internet Gaming Win Grows 28 Percent In First Half Of 2017

62
New Jersey Internet Gaming Win Grows 28 Percent In First Half Of 2017

New Jersey’s online casinos continued their winning streak by taking in $20.2 million in June, up 23.4 percent year-over-year, according to figures released by state gaming regulators.

The internet gambling operators took in a combined $16.4 million in June 2016. Games other than traditional peer-to-peer poker drove the growth.

Poker revenue of $1.7 million was down 11.9 percent year-over-year compared to $1.9 million last year. The other games, which include offerings like blackjack and slots, were up 28.2 percent year-over-year, going from $14.3 million to $18.4 million.

Thanks in large part to internet gaming, total casino industry gaming revenue (live and online) of $217.7 million during the month was 1.8 percent better than the $213.8 million won in June 2016.

The roughly $4 million in extra revenue was nearly the amount that internet gaming revenue grew year-over-year. In other words, if it wasn’t for online gaming, Atlantic City’s casino industry would likely not be experiencing any growth.

Through the first six months of 2017, the online casinos won $121.4 million, up 28.1 percent compared to the $94.8 million won during the same period last year.

Total industry revenue during the first half of this year was $1.29 billion, up 3.5 percent compared to the $1.24 billion won during the prior period.

Atlantic City lost the Trump Taj Mahal in October, so overall revenue would be up even more if you exclude that casino. The Taj was sold to Hard Rock earlier this year for just four cents on the dollar and is scheduled to reopen next year.

Last year was the first time in a decade that Atlantic City casino win increased compared to the year prior. Gaming win from the brick-and-mortar and online settings was $2.6 billion in 2016, 1.5 percent increase compared to 2015.

June’s revenue performance wasn’t the only good news for Atlantic City in June. The U.S. Supreme Court said that it will hear New Jersey’s case against the Professional and Amateur Sports Protection Act of 1992, which could allow sports books outside of Las Vegas.

Content Credit: http://www.cardplayer.com/

SHARE