New Jersey Online Gambling Growth Slows Down In February
Last month we reported on the 28% growth rate of New Jersey in their online gambling figures. Of all the three states offering legal internet gaming, New Jersey is under pressure to live up to the expectations as they are have the biggest potential customer base. It is still too early to tell if New Jersey will come close to the estimated annual revenues of $250 million to the $1 billion of Gov. Christ Christie. Let’s not forget that New Jersey’s online gambling industry is only four months old.
The latest figures from New Jersey have been released for the month of February which show a significant decrease from the previous month’s growth rate. All the Atlantic City gambling websites recorded a modest 9% increase for the month with $10.3 million in revenue generated. In February online sites won $10.3 million which was up from the $9.5 million in January. The Atlantic City casinos recorded a decline of 1.4% in winnings from the same period in 2013 to $209.4 million.
Besides online revenue, all the state casinos were down 6.2% from a year ago and took in just under $200 million. While many would be disappointed at the slow growth rate, it is fair to state that online gambling in the U.S. is still in its early stages and the best should still be coming.