New Jersey online gambling revenue tops million in February
Overall growth in New Jersey’s online gambling market slowed in February, but online revenue still increased 9 percent over January.
In all, Atlantic City casinos and their online partners—comprising 16 online gambling sites—took in $10.3 million from online gambling in February, up from $9.5 million in January. Online revenue for January had risen 28 percent over December—the first full month of online gaming in the state.
Though online play in the state may be leveling off, casino officials remain optimistic about online gaming continuing to grow.
“We are delighted with the way it has started,” Brian Mattingley, CEO of 888 Holdings told the Associated Press. The company is partnered with Caesars Interactive and runs 888 Poker in the state.
“All of us got into a good rhythm and started some good marketing,” Mattingley said. ”Overall, I’m delighted with where we’re at.”
The figures helped offset another month of declines for Atlantic City’s land-based casinos.
Including their online gambling operations, Atlantic City’s 11 casinos won $209.4 million in February, a 1.4 percent decline compared to February 2013, according to figures released by the state Division of Gaming Enforcement.
The 2013 figures include revenue from the Atlantic Club casino, which is no longer operating. The Atlantic Club closed in January.
Excluding Internet revenue, the 11 casinos took in just under $200 million in February. That’s down 6.2 percent from a year ago, but only 1.5 percent if the Atlantic Club is excluded, according to the AP.
Five city casinos reported overall gains in revenue.
The Golden Nugget Atlantic City posted the biggest monthly gain, up nearly 26 percent, to $12.5 million.
The Golden Nugget seems to be benefitting the most from the Atlantic Club’s closure. The casino actively went after former Atlantic Club players—as did several other casinos—and has seen a marked increase in play. The casino even called an emergency job fair last month to fill 100 new positions.
Revel Casino Hotel ($10.9 million) and the Tropicana Casino and Resort ($19.7 million) each posted a 20.7 percent monthly gain. Resorts Casino Hotel was up 11 percent to $9.7 million, and Caesars Atlantic City was up 5.8 percent to $25.6 million.
The city’s two Trump Entertainment Resorts casinos continue to struggle as Trump Plaza Hotel and Casino was down nearly 25 percent to $3.9 million, and the Trump Taj Mahal Casino Resort was down more than 24 percent to $15.6 million.
The Showboat Casino Hotel was down 16.5 percent to $12.2 million; Bally’s Atlantic City was down 11.4 percent to $16.6 million; Harrah’s Resort Atlantic City was down 5.5 percent to $26.3 million, and the Borgata Hotel Casino and Spa was down 1.6 percent to $45.8 million.
Borgata, however, has emerged as the clear frontrunner in the online market in the first three months of online gaming, but Caesars and its partners, 888 and WSOP, have cut into the Borgata’s market share over the past two months.
“We were particularly encouraged by the performance of Borgata’s online casino site, which achieved month-over-month revenue growth of 36 percent, and more than 50 percent on a per-day basis,” said Keith Smith, CEO of Boyd Gaming, which owns half of the Borgata. “Looking ahead, we continue to see significant opportunities for future growth in New Jersey as we refine and enhance our online product.”
Also emerging as a major player in the online market is Caesars Interactive, with its 888 and WSOP brands. Caesars Interactive, which now operates online poker in Nevada as well as its New Jersey sites, recently announced record revenues for 2013.
The Borgata won just over $4 million online in February, while Caesars Interactive won $3.3 million.
The Tropicana, with its self-titled and Virgin Casino brands, won $1.3 million online, about a 60 percent increase over January.
The Taj Mahal, with its Ultimate Casino brand, won $587,323; Trump Plaza and its Betfair online affiliate won $493,590, and the Golden Nugget won $460,121 online.
The online numbers also reflect a 10 percent decline in online poker in the short month of February, but a 20 percent increase in play on casino games, according to the DGE figures.
So far for the year, Atlantic City’s casinos have won $385 million at land-based games, down 7.7 percent from the same period a year ago. Their online operations have won $19.7 million in the first two months of the year, according to the AP.
Nearly 250,000 online gambling accounts have been created in New Jersey since the state began internet betting on November 21.
