March Online Revenues In NJ Rise But Most Casinos Still Struggling
One of the main reasons we have legal online gambling in the U.S. in three states is that supporters of internet gambling promised that it would help out the struggling brick and mortar casinos in the respective states. New Jersey’s land casinos have been on a downward spiral for many years and the promise of increased revenues from online partnerships seems to be having mixed results. There is no one denying that online revenues in the Garden State are way off the optimistic forecasts.
The state Division of Gaming Enforcement has just released the March report which again made for mixed reading. The positive is the 15 percent rise from online gambling in March over the previous month but the more worrying figures are that most of the 11 Atlantic City Casinos did not see revenue rises.
As it stands now there are 292,000 registered online betters which is an increase of 18 percent from February. March saw casinos win $11.9 million from internet gambling which was a 15 percent improvement from the $10.3 million in February.
Atlantic City’s struggling 11 casinos were down 2 percent in March with a total of $233 million. Another disappointing statistic was that winnings for physical casinos were down 7 percent with $233 million as opposed for the same period last year.
Among the 11 state casinos, there were either winners or losers in March. The best improvement was that of the Revel Casino Hotel who saw their winnings at their physical casino rise by 50 percent to $14.7 million. Another good performer was the Golden Nugget Atlantic City which made a dash for the former Atlantic Club Casino Hotel players with an increase of 20 percent. The Tropicana Casino and Resort posted a respectable 10 percent increase.
The losing casinos included the Trump Plaza Hotel and Casino which saw a 31 percent decrease with $4.7 million. Bally’s Atlantic City was down 18 percent with $17.9 million, Trump Taj Mahal was also down 19 percent with $19 million and the Showboat Casino Hotel was down 17 percent with $14 million.The top online gambling earners still belong to the Borgata with $4.4 million and Caesars Interactive New Jersey following with $3.7 million.