New Jersey Online Gambling Revenues Continue To Grow

New Jersey Online Gambling Revenues Continue To Grow ( Click to Enlarge )

Latest operating reports have revealed that New Jersey’s online gambling revenues were incredibly close to hitting new heights in September.

All Time High Revenues Online

When looking at the combined results of all NJ operators, figures show that more than $25.75 million was earned over the month across all poker and casino portals.

This outcome is only marginally shy of the all-time record of $25.9 million, which was hit in July of this year.

However, when taking into account only the online casino vertical, a brand new record was set, with these revenues accounting for a grand total of $24 million for the month.

This also means another record was hit, due to the fact that online gambling revenues have now reached at least $24 million in NJ for 19 consecutive months.

Growth For Online Casinos

When compared to the same period in 2017, these results can be seen to be even more impressive. In September last year revenues were $20.4 million, meaning that this year’s earnings are a massive 26% higher.

And it would seem that online casino incomes are only set to increase in the months and years to come.

Revenues reached higher than ever in September, with all but one operator revealing impressively consistent and substantial growth; there are absolutely no signs that this trend is set to stop any time soon, which is incredibly positive news for NJ operators.

Poker Losing Momentum

While online casino revenues are soaring – and show no signs of slowing down, for that matter – it seems that online poker is not faring quite so well.

In fact, there seems to be trouble in poker paradise, with all three of the major New Jersey poker networks posting month-to-month downturns when compared to August.

And two of them, PokerStars NJ (down 24 per cent), and Borgata (down a staggering 37 per cent), are massively down when cross-referenced with their results from September of 2017.

What is perhaps a more damning indictment of poor performance is that revenues from online poker firms have not been this poor since November 2013, which was the initial month of online operation.

However, while this is the case for online poker portals, it is very important to note that the overall picture is incredibly positive. Poker accounts for a relatively small percentage of total revenues, and in the broader picture, the New Jersey results are certainly on the up.