New Jersey is one of the few states that regulates its online gambling market. All of the casinos spread around Atlantic City provide internet gambling options, yet some are proving to be more successful than others. Golden Nugget Casino is close to setting a new record with its online gambling operations.
Based on this year’s trend, the Golden Nugget could become the first casino where online gambling is more profitable than land-based gambling. It’s an interesting development that could have a huge impact on the US casino industry moving forward. Let’s look at why this is.
Casino Revenue in Atlantic City Continues to Increase
For more than a year now, gambling revenue in Atlantic City has increased. Every single month, casino earnings here exceed what they were a year prior. There are many that feel this New Jersey city could become the next major US gambling destination.
Some casinos in this city are proving to be more successful than others. The Borgata Casino continues to out-perform the rest. In May alone, Borgata earned $55,236,068. The second highest-earner is the Hard Rock, which brought in $28,626,602.
Historically speaking, Golden Nugget Casino is one of the lower-earners in Atlantic City. In May, this casino earned just $17,137,676. Interestingly, Golden Nugget has the most popular online gambling platform in the state.
This casino has teamed up with Betfair and offers a wide range of online casino and internet sports betting options. Online gaming revenue has increased for the Golden Nugget and is now close to surpassing the land-based casino revenue.
Golden Nugget Internet Gambling Revenue Surging
As we’ve already mentioned, New Jersey is one of the few states to legalize and regulate online gambling. Casinos in the state use geolocation software that allows anyone in New Jersey’s borders to gamble online. The popularity of internet gambling has never been higher here.
This week, reports surfaced showing just how much the Golden Nugget’s online gambling revenue has increased. For the past year, internet gambling revenue has been on a steady incline here. Online gaming revenue is nearing the casino’s land-based revenue.
It may be the very first time that any casino’s online operations are more successful than land-based gambling. Steve Ruddock, a New Jersey-based gambling analysts, feels that it’s inevitable for online casinos to take over the gambling industry.
“It would surprise me if it happened during the busier summer months, but I wouldn’t be surprised to see online revenue surpass retail revenue as soon as October,” Ruddock said.
Why is Golden Nugget’s Internet Platform So Successful?
Unlike many casinos, Golden Nugget focuses all of its attention for internet gambling in New Jersey. They have teamed up with a number of major iGaming experts to provide their players with the best possible product.
In four of the past five months, the difference between online and land-based gaming revenue was less than $3.5 million. June’s revenue figures are not yet known. There is a chance, albeit a slight one, that internet gambling earnings will be more than the casino’s land slots and table games.
Golden Nugget simply offers a better online gambling platform than its competitors. Industry researcher Chris Grove explains how.
“To put more simply, they are bringing a better product that is executed more robustly than the majority of their competitors in the market,” He said. “So, that idea of operational excellence is one of the primary reasons why Golden Nugget is in the position that it’s in, in terms of generating as much revenue as it does from online gambling.”
It wouldn’t be a surprise to see online casinos in New Jersey improve over the next few years. More people are choosing to make their bets online, and internet gaming revenue continues to increase. Make sure to stay tuned for updates on this story as they come out!