New Jersey’s online gaming sites enjoyed another profitable month, despite a record setting jackpot dropping in February. Following the release of New Jersey’s latest round results from the state’s Division of Gaming Enforcement, the reaction by many in the industry has been positive.
Although the overall returns were slightly lower than January’s profits, this dip can be attributed to a $1.5 million payout by Betfair in mid-February. The anonymous player scooped $1,522,000 playing Let It Ride on Betfair and had it not been for this payout, the Garden State would have reported some of the best figures in its existence according to PlayNJ.com’s Steve Ruddock.
“These jackpots are the price of doing business for online casinos, but they dramatically skew the revenue figures for an individual month and don’t paint an accurate picture of the health of the industry, which is why they should be disregarded when examining any singular month. Therefore, if we add the $1.5 million jackpot to the current $10.4 million revenue tally, February 2015 was New Jersey’s best igaming month to date.”
Despite this payout, New Jersey’s igaming providers still performed better in 2015 than they during the same period in 2014. Reviewing the latest NJDGE figures, 2015’s haul was $10.4 million which is approximately $100,000 more than the $10.3 million reported in 2014.
Helping buoy the market last month was the entry of Resorts. Although the State’s latest player was only operational for just over a week, its collection of casino games managed to generate $50,909. That figure ranks it as the fifth richest igaming operator in New Jersey for February 2015.