New Jersey Online Gambling Market Records a 26% Increase in September
The recently released report shows September has been a productive month for online casinos operating in the state of New Jersey.
Not only did they manage to record a monthly revenue larger than $20 million for the seventh month in a row, but they succeed in establishing a strong market position for this relatively new segment.
The Monthly Internet Gross Revenue Report, released last week, shows the Garden State’s online casinos grossed $20.4 million in total.
According to Steve Ruddock, lead analyst for PlayNJ.com, this is great news, not only for the online gambling in New Jersey but the entire gambling industry in the state.
Ruddock said online gambling accounted for some 10% of all casino revenue recorded by Atlantic City Casinos – an unbelievable result for such a young industry. He added that legal online gambling had quickly become an extremely competitive market, which would undoubtedly bring many benefits to the state itself.
September results were a bit down from those recorded during August when the online gambling sector grossed $21.3 million but were 26% up when compared to the same month of the last year. Nearly $660,000 earned on a daily basis!
Boosting the Entire Industry
During the nine months of this year, online casinos in the state of New Jersey grossed $183.7 million, which puts the industry in the position to reach a quarter of a billion dollars by the end of the year. Last year, online casinos managed to generate $196.7 million.
Ruddock claims online gambling has been the rising tide for Atlantic City casinos, playing a crucial role in their revival.
The proof of that, Ruddock says, is the fact Atlantic City casinos are the healthiest they’ve been in years.