The New Jersey Division of Gaming Enforcement released its revenue numbers this week. These show the state’s five different online gambling licensees posted $20.5 million in revenue in the month of October 2017. That represented a 23.4 percent increase over the $16.6 million in revenue reported in the same month last year.
Online gambling revenue records fall in New Jersey
The solid October also pushed year-to-date numbers up to $204.2 million. This broke the record for online gambling revenues before the year is even through. The state’s regulated online gambling industry posted a record $196.7 million in revenue in 2016. That number was up 32.1 percent from $148.9 million in 2015. It also helped turn around a decade of declines posted by the Atlantic City casino industry as a whole.
Now, with two months still to come before 2017 wraps up, NJ online casino revenue records have already been broken. Plus, it appears the online side of the industry is poised to post another big year-over-year increase.
Golden Nugget led the way once again, with sites operating under its license surpassing $6 million in revenue for the third time this year. No other online gambling licensee posted over $5 million in revenue in October.
Borgata Online was a distant second posting $4.2 million in revenue during the month.
NJ online poker numbers disappoint
Online poker continues to represent less than ten percent of overall online gambling revenues in the state. Plus, the numbers are declining. In fact, online poker operators posted just $1.9 million in revenue in October. This was down 1.6 percent from September and close to 20 percent from the same month last year. October 2017 represented the third-worst month in New Jersey online poker history.
The state signed on to a shared player pool agreement with Delaware and Nevada in October. Operators are certainly hoping the agreement can be the catalyst for a big turnaround for online poker numbers in New Jersey.
Total casino revenues poised to post gains
Overall casino gambling numbers in the state were more promising in October. Atlantic City’s seven operating casinos posted $206 million in total gambling revenue throughout the month. That represented a 1.7 percent increase over the $203 million in revenue posted in the same month last year. This despite the fact Trump Taj Mahal was still operating last year.
So far this year, New Jersey casino revenues have reached $2.24 billion. This compared to $2.19 billion during the same period last year. With two more months to come before the end of 2017, the entire NJ gambling industry appears poised to post gains for the second year in a row. Now, the future for the NJ casino industry looks as bright as it has in a decade.
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