Positive Signs For New Jersey Online Gaming Revenues In April
The launch of online gambling in New Jersey in November 2013 has not set the gaming world alight. It is now almost comical to look back and see the proponents of legalizing online gambling in the Garden State like Gov. Chris Christie estimate revenues of up to $1 billion annually.
Some of the main reasons for the dismal performance of online gambling in New Jersey are factors like problems with the geolocation technology as well as major banks putting up obstacles for credit cards to be uses in opening online gambling accounts.
Revenues for the month of April were just released by the state Division of Gaming Enforcement and there were signs for optimism. Online gambling revenues for the month of April from Atlantic City’s Casinos were up more than 11 percent compared to the same period a year ago. All in all for this year New Jersey online gaming revenues are nearly $48 million which is an increase of 19 percent from the four moths in the same period on 2014.
The fortunes of the land casinos was mixed with overall revenues of Atlantic City’s eight casinos declining by 3 percent in April to reach $199 million. Of the eight state casinos four reported increases compared to April 2014. The Golden Nugget saw a 30 percent increase to $17.6 million while Caesars recorded the largest decline of 34% to reach 422.5 million.
Chairman of the New Jersey Casino Control Commission, Matt Levinson put things in perspective and was optimistic on the overall performance. He said,” Don’t be thrown off by these results. When you look at the first four months of this year, revenues are still running 3.5 percent above last year’s levels.”