Online Casino Revenue Continues to Boom in New Jersey

Atlantic City casinos experienced a decline in revenue in September for a second straight month despite New Jersey regulated online gaming operators once again generating more revenue when compared to the same period a year ago.

According to the September 2016 Gaming Revenue Results financial report released by the New Jersey Division of Gaming Enforcement, total revenues declined by 1.5 percent from $230.1 million in September 2015 to $226.1 million this past month.

However, this does not tell the entire story. It appears land-based casinos as a whole actually performed better this year than last year. The Trump Taj Mahal recently closed its doors and accounts for most of the decline with $16.7 million in September 2015, more than double the $8.1 million in September 2016.

When factoring in the now-closed casino, revenues from September 2015 to September 2016 increased by 2.4 percent.

Also, thanks to a strong performance earlier in 2016, year-to-date revenues increased by 1.6 percent from $1.963 million in the first nine months of 2015 to $1.994 billion in the first nine months of this year. Once again, the picture looks even rosier when removing the Taj Mahal, with year-over-year revenue increasing by 2.8 percent.

Land-Based Casinos Show Growth Despite Decline

The reason for the overall revenue decline in September is due to less revenue being …

continue reading in source www.pokernews.com