American Online Gambling Revenues Up
American markets have benefitted greatly from legalised online gambling. With 4 states already benefiting from increased revenue streams, more and more governments must be mulling the idea. Atlantic City and New Jersey have reported strong revenue growth in the third quarter of 2017.
New Jersey Performing Consistently
In New Jersey gaming revenues were by 23.4% compared to last year. The overall growth in the market was all thanks to online gaming. Land based casino revenues actually dropped by 0.3% for the same period. Online gambling increased by almost 27% compared to the same period last year for a total of $204 million in revenue for the year. The total New Jersey casino market brought in over $2 billion in revenues for this year.
New Jersey has been beating other legal online gambling states in revenue now for some time. Delaware and Nevada have not been able to match the online growth in Jersey and now with Pennsylvania also legalising online gambling it would be interesting to see how things play out.
There are already a series of agreements between Delaware, Nevada and New Jersey to provide an integrated online network of Poker. It seems that New Jersey is becoming the hub for these games that could serve it a critical role in the future of online gambling in the US.
Atlantic City Sees Online Growth
Atlantic City finds itself in a very similar situation to New Jersey. When you look at just the land based casino revenues, overall growth in the market dropped by 0.3%, but when you factor in online gambling, the market grew by 1.7%.
Overall online gambling revenue has grown by 23% year on year. The main casinos that benefited from this online growth are the Golden Nugget, Resorts Digital, Tropicana, Caesars Interactive-NJ and the Borgata. They all saw a 3% to 4% growth in their online revenues. Overall they all saw land based growth as well with the exception of the Borgata who saw a massive 7.4% dip in their revenues which they attributed to a few high profile wins at their tables.
Of the 7 land based casinos in the area, 6 posted positive revenue growth. Harrah’s had the highest earnings for October with $30.3 million banked, but they only saw a 3.5% growth compared to last year. The Golden Nugget saw the biggest win for the month posting a 17.5% revenue growth. Caesars came in second with a growth of 9.5% while Resorts Digital saw a 4.7% growth.
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