Gaming revenue falls in New Jersey
January 20, 2014
Gaming revenue in 2013 fell in the Garden State compared to the previous year according to the New Jersey Division of Gaming Enforcement (DGE) despite introduction of online gambling, which generated €6.2m between November 21 and December 31.
The DGE also reported that overall casino gaming revenue for the year in New Jersey dropped from $3.1 billion in 2012 to $2.87 billion in 2013. It is the first time that the figure has dipped below $3 billion in 22 years. The additional funds generated by online gaming were not enough to boost overall gaming revenue, with New Jersey’s total for the year standing at $2.9 billion, a $180.4 million drop on the previous year. With overall gaming revenue down, casinos in the state also reported mixed results since the launch of online gaming.
The Borgata Hotel Casino and Spa, which has partnered with only gaming operator bwin.party, has emerged as the leading igaming operator in New Jersey’s newly-regulated market with US$3.3m in gross win during December 2013. Borgata said that its online poker business generated $1.9 million, a figure that represented 50.8% of its overall gaming revenue for 2013. Land-based operator Caesars Interactive Entertainment’s New Jersey operation was the closest challenger to Borgata, recording year-to-date online gaming revenue of $2.4 million. For Caesars, online poker was the main driver as it generated $1.2 million, an amount responsible for 50.6% of overall online gaming revenue. Trump Taj Mahal managed year-to-date online gaming revenue of $883,037 in the period, while the Trump Plaza generated $427,73, while Tropicana posted online gaming revenue of $748,589, while Golden Nugget, which was only handed approval for 24-hour online gaming on December 13, generated $179,120 by the end of 2013.