NJ’s Online Betting Industry Continues to Show Promise as January Revenue Increases
The New Jersey Division of Gaming Enforcement’s (NJDGE) 2014 January Internet Gross Revenue Report shows that the aggregate amount of online gambling revenue for the month of January is $9.5 million, which is higher by almost $2 million than the December 2013 figure of $7.4 million.
Borgata Casino remains in the lead, although its January online casino winnings of $3.9 million show an 18 percent increase or only a $0.6 million improvement from the December Internet earnings of $3.3 million. Still, the casino company’s current turnover represents about 40 percent of the Garden State’s total online wagering revenue.
Following closely at Borgata’s heels is Caesars, as the report shows the company’s January online revenue is $3 million, which is higher by a million compared to last month’s online earnings of $2 million. Seth Palansky, the official spokesperson for Caesars Interactive, attributes the 49 percent growth to their marketing campaigns, which went into full swing only in January.
Golden Nugget remains as a tail-ender, despite showing an improved income of $286,922 in January, from the previous month’s figure of $177,653. Yet Golden Nugget’s growth rate of 61 percent is more impressive than Trump Taj Mahal’s. The latter’s earnings of $858,351 for the month of January is only $33,259 higher than its December turnover of $825,092 or a mere four (4) percent growth rate.
Tropicana and Trump Plaza are still way behind Borgata and Caesars, for having $841,065 and $557,007 respectively; but the figures are still significant as far as growth rate is concerned. Tropicana’s revenue increased by $237,486 from December’s $603,579, which equates to a growth rate of 39 percent; while Trump Plaza increased by $155,036 from the previous revenue of $401,971 or a 38 percent increase.