Online Casino Revenue in NJ Continues to Boom, Overall Revenue Slumps | PokerNews
Online revenue from regulated New Jersey operators again grew in August; however, land-based casinos in Atlantic City slumped at a larger rate, leading to a declining month overall when put next to at least one year ago.
According to the August 2016 Gaming Revenue Results financial report released by the brand new Jersey Division of Gaming Enforcement, total casino revenue within the Garden State declined by 6.9 percent from $258.6 million in August 2015 to $245.9 million in August 2016. This marks three of the four past months with a decline in total revenue. July was an exception. Revenue increased by 6.9 percent in August of the past year.
Total casinos revenues decreased by a fair sharper 10.7 percent in comparison to the $275.3 million reported in July.
Thanks to a powerful performance earlier in 2016, year-to-date revenue tells a distinct story with an overall increase of 2 percent from $1.733 billion within the first eight months of 2015 to $1.768 billion within the same period this year.
Land-Based Casinos Slump
For the fourth straight month, land-based casinos slumped. Revenue from land-based casino operations in Atlantic City declined by 6.7 percent from $246.4 million in August 2015 to $229.8 million in August 2016. This also represents a larger 10.9 percent reduction in revenue when put next to the $257.9 million realized by land-based casinos in July 2016.
Despite the poor performance in past times four months, overall land-based casino revenue showed a slight gain of 0.2 percent on a year-to-date basis with revenues within the first eight months of this year reaching $1.639 billion, in comparison to $1.636 billion the similar period a year ago.
Online Revenues Continue to Boom
Despite poor returns from land-based operations, online revenue again increased in August. That is of little surprise since there hasn't been a single month since regulated online gaming was introduced to the Garden State that a rise in online revenue didn't happen in comparison to the similar month a year before.
Regulated online casinos grew revenue to $16.1 million in August 2016, representing an enormous 31.6 percent increase from the $12.2 million recorded revenue in August 2015. Year-to-date revenues increased by the same 32.6 percent from $96.8 million in August 2015 to $128.3 million in August 2016.
However, this won't tell all of the story as online revenue decreased in August 2016 by 7.5 percent (from $17.4 million in July 2016).
Borgata is again the leader in online revenues with $3.7 million in August 2016. Despite this, its growth rate was only 1.7 percent in comparison to the $3.6 million recorded within the same period a year ago. All other online casinos license holders grew at a more substantial year-over-year rate.
Breakdown of August 2016 Online Gaming
| Borgata | $3,737,494 | $3,676,513 | 1.7% |
| Caesars Interactive NJ | $3,117,389 | $2,765,867 | 12.7% |
| Golden Nugget | $3,469,206 | $2,250,713 | 54.1% |
| Resorts Digital | $2,896,284 | $735,140 | 294.0% |
| Tropicana | $2,853,930 | $2,789,280 | 2.3% |
| Total | $17,368,984 | $12,531,991 | 38.6% |
Taxes contributed to the state for the primary time in recent memory decreased with $19.2 million contributed last month, in comparison to the $19.6 million contributed for a similar period a year ago and the $21.4 million contributed for July 2016.
Similarly, $3.3 million in reinvestment obligations was contributed last month to the Casino Reinvestment Development Authority. This was a drop from the $3.4 million contributed throughout the same period a year ago and the $3.7 million from July 2016.
*Data contributed by http://www.nj.gov and lead image courtesy of watchdog.org.
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