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Atlantic City Online Casinos Doing Great
Sunday August 28,2016 : ONLINE OPERATIONS ARE OUTSHINING LAND RESULTS IN ATLANTIC CITY
An interesting perspective on performances by market analyst.
Using numbers from the New Jersey Division of Gaming Enforcement, a Press of Atlantic City op-ed piece over the weekend concluded that at 31.7 percent the year-on-year rise of Atlantic City online gambling win in H1-2016 eclipsed the 0.6 percent delivered by land casinos in the same market, and probably did so at a cheaper operating cost.
"Admittedly, the significant increase in online gaming win was on a much smaller base, approximately $72 million in the first six months of 2015 vs. nearly $95 million this year. But it amounted to a net increase of almost $23 million in new revenue while the onsite [land] gaming win was only about $7.3 million more in 2016 compared to the same period last year," the author, market analyst Anthony Marino, notes.
Total casino revenues from all sources, including third party sales, increased from $1,750,124,000 in the first six months of 2015 to $1,776,095 this year, an increase of approximately $26 million, or 1.5 percent over last year.
"Thus, the nearly $23 million contribution from online gaming was the primary driver of new casino revenues so far in 2016," Marino claimed, additionally pointing out that state government taxes harvested from online gaming win are, at 15 percent, considerably higher than the 8 percent rate that land casinos pay.
Marino claimed online gaming has certainly helped the bottom line of those land operators who embraced the vertical, but his next suggestion is unlikely to resonate with online industry supporters...
"Perhaps, with online gaming racking up double digit increases monthly and its ability to reduce costs and boost profits, the Legislature should consider raising the online gaming tax rate to 25 or 30 percent and the onsite rate to 20 percent in Atlantic City. Then voters would have the choice to raise more state revenues for senior citizen programs from the existing online and onsite casinos based here in South Jersey rather than from new ones up north."
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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