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New Jersey Online Gambling Revenues Decline
Thursday May 15,2014 : NEW JERSEY ONLINE GAMBLING MARKET SLOWS
April stats show the first decline for the nascent market.
The latest online gambling performance stats released by the New Jersey Division of Gaming Enforcement make for disappointing reading, indicating that the nascent market suffered its first decline in April 2014 after just five months of operational activity.
At $11.4 million, April's numbers were $500,000 down on the preceding month, with poker suffering especially through a 20 percent month-on-month decline to $2.6 million. That was offset to some extent by an increase in online casino revenue, which was up $200,000 at $8.8 million.
Still, the weak performance is not encouraging, coming as it does in a month where operators have commenced significantly beefing up their marketing efforts.
In April Borgata's websites again led the New Jersey online market with revenues of $4.1 million, mainly from online casino activity, which contributed $2.7 million. In line with the rest of the market that represented a drop from overall revenues in March, which reached $4.4 million.
Caesars Interactive continued to chase the market leader, reporting revenues of $3.05 million, $1.9 million of which came from online casino operations, whilst in third place Tropicana posted $2.15 million in revenues - an improvement from the $1.9 million recorded in March.
The regulator reports that total player registrations were up 10.6 percent in April to reach 322,000 since the market legalised last November. That also represents an almost 7 percent drop in the player growth reported for March.
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