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New Jersey experiences its first decline

May 16, 2014

As Joe Lupo, senior vice president of the Borgata Hotel Casino & Spa, has said: "It simply takes time when launching a new business", although this has not been a reference to follow for others, like the US media who is already stating that the online gambling market is sinking. The news are traveling around the world very fast as there are many interests on breaking down the online gambling industry. Last week, readers could see this form of attack against from some of the US Congress Representatives who will be willing to ban, federally, the whole market. This is just another strategy for politicians to favor others' interests like Sheldon Adelson and many other land-based casino owners from Native American Tribes who want to keep their monopolies intact.

March seemed to be a very good month for the online Casino and Poker rooms in New Jersey as per the figures that were released by the state Division of Gaming Enforcement: $11.9 million. However, the market has to fluctuate and must present some changes as this is not as different from other markets as coalitions, politicians and casino owners are trying to sell us. So far, this year 2014, 16 online Casino and Poker Rooms have brought a revenue of $831 million, a little lower than last year.

In spite of this, the online gambling market in New Jersey has generated $380,958 in April. Online gambling is still one of the most profitable markets in the world; new mobile platforms, like the 3G/4G technology for smart-phones, has helped to develop better game rooms as wells as to improve the security measures. But Credit Card companies like VISA, MasterCard, Paypal or Discovery, are still receiving threats from the US Federal Government, a government that threatens us with shutting the whole market down, including all these international e-commerce business and their transactions.

Besides New Jersey’s first monthly decline on its online gambling industry, The Borgata continued to be the leader on figures in the Garden State with $16.4 million so far this year. Caesars Interactive has made $13.1 million while the Tropicana Casino and Resort made $6.2 million. The Golden Nugget and the two Trump casinos have been the ones that less made: in between $2 and $2.7 million. New Jersey's overall revenue is still proving wrong both, the Federal Government and Sheldon Adelson's coalition against online gambling, as this industry is still generating revenue, like the Revel Casino Hotel that has seen its revenue grow from $8 million to $12.5 million in only one year.

 


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