New Jersey, Golden Nugget Break Online Records

New Jersey, Golden Nugget Break Online Records

The online gaming industry in New Jersey started off slowly but has since accelerated in profits. The online gaming market soared in July, and the Golden Nugget Atlantic City set a new benchmark. Researchers have indicated that the opening of two new casinos may be the impetus for the spike in online gaming.

The Revenue

The New Jersey Division of Gaming Enforcement reported that online gaming operators generated revenue of $26 million in July. This represents a $5.3 million increase over the same month last year and $300,000 over the previous record set in March. Interestingly, the online casino games did much better than the online poker games. The casino games were up over 30 percent to around $24 million, while the poker online play was down 8 percent to $1.85 million in July.

Year-to-date, the online revenue for the online casino companies in New Jersey is up almost 17 percent to $165 million. The casino games represented $152 million of that revenue, which is up nearly 20 percent. The revenue for online poker dropped 11 percent to $13 million.

Golden Nugget Revenue

Golden Nugget RevenueThe Golden Nugget set a record in July of $9.3 million for its online casino operations, which was nearly a million dollars better than the previous March. The Golden Nugget, which has casino-only operations online, had revenue that was nearly double that of its closest competitor, the Borgata. This casino earned only $4.9 million in the same period, but only $468,000 came from its poker sites.

Other Casinos Online Revenue

Resorts Digital Gaming, which includes the PokerStars brand, only managed to come in third place for revenue. This is a rare loss of PokerStars, which is the largest online poker company in the world. The brand took in $3.9 million, but only $653,000 came from poker. Caesars Entertainment earned the most from poker at $728,000. The overall casino revenue was $3.8 million. The Tropicana Casino came in fifth with $3.35 million, but it doesn’t offer poker.

Shared Revenues

Some of the casinos in New Jersey have been experimenting with the concept of sharing revenue through online gaming platforms. Caesars has been sharing revenue with other locations in Delaware, hoping that the casinos would share the expense of the online sites, as well as the revenue. This is the newest trend in online gaming. Some experts have predicted sharing the revenue and expense of online gaming is the wave of the future. Casinos are spreading out because of the expense of website and game design. They are also spreading out because the public wants more exciting games on a regular basis. So, casinos that share expenses and revenue can afford to offer the latest online gaming technology.

The two newest casinos in Atlantic City; Ocean Resort Casino and Hard Rock Atlantic City, also have online casino gaming. In addition, these two casinos have another innovation in mind. Following the trend online, the two casinos have signed a deal with Evolution Gaming to do live dealer studio gaming in the next six months. Private dealers and players playing and ask for donations online. The two casinos are merely following the trend since more and more casino games are going virtual. And, virtual reality gaming is expected to continue to develop over the next 10 years.

Gaming officials in New Jersey have attributed the rise in online gaming to more players preferring to play from home rather than at casinos. The growing economy is also a factor. States that were lagging behind in job placements are starting to see single-digit unemployment.

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