New Jersey Online Gambling Market Reports Record-Breaking Numbers
This past month, New Jersey online gaming revenue hit its highest ever amount at $13,222,543. These numbers are proof that the online gambling market is headed in the right direction. Over the next few months, PokerStars will be joining the online marketplace in New Jersey as well, and these numbers show that there is plenty of room for everybody.
The $13,222,543 collected in November was a 2.8% increase over October revenue and a whopping 51.2% increase from November 2014.
The five major casinos have each reported high online gambling revenues as well. Borgata/Party was at the top with $3,002,860, Tropicana/Virgin made $2,973,127, Golden Nugget/Betfair reported $2,200,820, Ceasars/Harrah’s/888, $1,872,383, and Resorts AC at the lowest still made over a million dollars with $1,215,832.
Online poker, still one of the most popular games, brought in nearly $2 million alone. Back in September, online poker was at its all-time low at $1,771,123. Now just two months later it has climbed by 4.3%, putting it in second place as the fastest growing online gambling market. BorgataPoker and PartyPoker NJ lead the market with $1,102,595 of online gambling income. WSOP.com and 888PokerNJ reported $854,918.
The total gaming revenue made by the state of New Jersey during November was $204.3 million, a solid 1% increase from last year’s $202.5 million. Many believe that this is because of the addition of online gambling, because without it, there would have been a 1.4% decrease from last year’s income. In total, the state made almost $16 million in taxes from all gambling income.
Year-over-year money lost on slots was down by 2.7%, table game wins increased by 1.9%, and total gaming wins were down by 7.1%.
This year, Borgata came in first with a total gaming revenue of $57,110,046 (a 2.3% increase year-over-year). Harrah’s placed second with $30,101,967 (unfortunately a 3% drop year-over-year). Caesars made $24,337,156 (5% down from last year). And the last big revenue generatingcasino was Tropicana at $22,584,789 (a 7.9% increase YTD).
Moving into 2016, the numbers look good for New Jersey. With PartyPoker on the verge of joining the states’ online gambling markets, there will be even more opportunities for online gamers in the coming years. With the online gaming industry generating healthy numbers in tax revenues for the state, New Jersey is setting a clear example of how working together with online gaming companies is definitely in the state’s best interest.
Image source: playnj.com