Online gambling significantly helped boost New Jersey’s casino industry in March, according to numbers recently released. The online gambling market helped grow Atlantic City casino revenues by 9%, with igambling performance reporting a 40% improvement in revenues compared to the same period last year. Not including the Taj Mahal Casino which closed its doors to the public last month, Atlantic City’s seven standing casinos saw a revenue increase of 17%.
The numbers were celebrated by Matt Levinson, chairman of the New Jersey Casino Control Commission. “Every month should be as good as March was,” he said. “When coupled with the very strong earnings report that came out last week, it’s clear that casinos have started to grow the market and increase their profits. That is generating a lot of positive interest in Atlantic City and has already attracted significant new investment in this market.”
Some of the interesting numbers that came out of the March 2017 report were as follows:
* Atlantic City casinos won a total of $221.8 million in March.
* Numbers for land-based casinos grew 9.3% year on year.
* Online gambling revenue increased to $21.7 million in March (up from $15.5 million this time last year).
* The Tropicana Casino reported the largest monthly revenue increase to $35.2 million (up 37.6%).
* The five land casinos that offer online gambling took in between $3.1 million (Caesars Interactive New Jersey) and $6.1 million (Golden Nugget Casino.)
New Jersey Casino Industry Stabilizes
New Jersey gambling authorities say that the March 2017 numbers are further proof that the state’s casino industry is stabilizing.
“For the first three months of 2017, internet gaming revenue is up 32 percent compared to last year, and the (online) industry is on pace for another record year,” noted David Rebuck, the director of the states’s gaming enforcement division.
Despite several casinos shutting down in the saturated land casino industry in recent years, this trend also seems to be taking a turn. The Trump Taj Mahal Casino was bought over by Hard Rock International, while the former Atlantic Club Casino has also been bought up. The Taj Mahal will reopen as a casino sometime next year while the Atlantic Club will make a come up as a non-gambling entertainment and water park facility.
The Tropicana continues to make significant improvements to its property, including the upgrading of its casino floor and new restaurants.
