Online Gaming Revenue in New Jersey Reaches New High in March

New Jersey Division of Gaming Enforcement was proud to report a significant increase of gaming revenue in March.

Online gaming sites in New Jersey have brought $13.2 million of combined revenue last month. It’s a new record revenue for New Jersey in the market’s 16 month history, according to information released by Division of Gaming Enforcement.

Internet gaming income climbed to $13.2m in March 2015 which represents an improvement of 10.8% compared to March 2014, when gaming revenue was $11.9m.

On individual operator basis, Borgata, which is offering both casino games and poker, reported the largest amount of rake in New Jersey, bringing in $4,192,024 in total gaming revenue.

Tropicana also did well last month with $3,042,470 in gaming revenue which represents significant improvement compared to March 2014 when this venue reported $1,895,826.

Caesars Interactive faced decline in online gaming revenue bringing in $2,815,328 compared to $3,716,873, that company reported in March 2014.

According to statistic released by Division of Gaming Enforcement, Golden Nugget reported $2,961,730 in revenue from the casino games alone. The title of most improved performer goes to Golden Nugget because in March 2014, it reported only $677,746 in online gaming revenue.

March 2015 also showed positive movement for poker sites. It was reported that poker providers earned an improved $2,227,629, compared to $2,045,665 which was earned in February 2015.

According to the newjerseycasinos.com financial returns show that New Jersey’s online gaming industry is improving. Nick Wilby commented that despite a number of financial setbacks in February, online casino and poker sites demonstrated that they can innovate and thrive. In his opinion, introduction of new games, for example bingo, has helped certain platforms to improve and attract more players. However, there is still plenty of space for technical improvements and, of course, financial improvements in upcoming months.

The Igaming market has been active in New Jersey since late 2013 but online gaming industry in New Jersey still can’t be described as booming one. However New Jersey has more positive attitude about online poker and casino games in the state, especially now when significant increase of gaming revenue was reported in March.

Despite of this, internet gaming industry in New Jersey still has a long way to go before it can truly be considered a 'booming' endeavor. As things stand right now, there is certainly a number of positives that can be drawn from the latest financial returns and things seem to be going in the right direction.

Photo: cbmint.com