Online Gambling Helps Atlantic City Stay Ahead
Online gambling revenues continue to push the state of New Jersey ahead of the game.
When it comes to casino gambling revenues, for most states in the US, they rely on the lottery, bingo or land based gaming venues to bring in the numbers. In New Jersey, the state is one of only three that also relies on online gaming totals to help bring in much needed revenues. For the month of February, the online gaming earnings in the state have helped Atlantic City see an increase in revenues. If only the totals from the land based casinos were used, the state would have actually seen a decrease in earnings.
On Monday, the New Jersey Division of Gaming Enforcement released the figures for the seven land based gaming venues of Atlantic City as well as the online gaming sites that operate in the state. The land based venues were able to win $205.3 million from gamblers for the month which is a .3% increase from February of last year.
If the casinos had not counted the online gambling win, they actually would have seen a decrease in earnings of almost 2%. Resorts Digital and the Golden Nugget both offer online gaming and were able to see a huge increase in earnings. Resorts Digital were up by an amazing 131% while the Golden Nugget was up 66% from the same time frame in 2016.
The Golden Nugget has an online gaming site that is operated by Rush Street Interactive, known as PlaySugarHouse which has continued to see strong growth since launching in September. The online casino was up 25% for the month. Rush Street president, Richard Schwartz, commented on the growth by stating:
According to Schwartz, the online gambling market of New Jersey should see further growth this year, especially as it becomes easier for players to deposit money to fund their accounts online. For the entire month of February, the online gambling sites took in $18.7 million which is almost 27% more than February of last year.
For February, the Golden Nugget was able to take the lead as far as earnings are concerned with $5.1 million in revenues. Borgata, Caesars Interactive NJ, Resorts Digital and the Tropicana all stayed together earning $3 million to $3.7 million for the month. The seven land based venues brought in $186.6 million in earnings, which is a nice increase of 4.9% when compared to 2016.
Matt Levinson the New Jersey Casino Control Commission Chairman stated that the current operators continue to show resiliency in a challenging gaming market and have been able to increase the gaming market for New Jersey.
As far as individual totals are concerned, the Tropicana earned just over $31 million which is 25.5% more than last year. The Resorts Casino earned $15.1 million, securing just over 21% more than 2016. The Golden Nugget earned $21.5 million which is a 15.2% increase while Caesars earned $22.8 million, up 9%. Harrah’s brought in $29.5 million, a 5% increase.
The Bally’s Casino was down to $16.3 million in earnings, a 4.7% decrease for the month. The Borgata earned $61.9 million for February, a 1.5% decrease.
When looking at the first two months of the year, Atlantic City is up almost 4% when looking at totals from January and February of 2016.