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New Jersey Internet Gambling Revenues up 28 Percent

Thursday February 13,2014 : INTERNET GAMBLING REVENUES UP 28 PERCENT IN  NEW JERSEY
 
Online gambling operations in January generated $9.46 million in revenues
 
It looks as though internet gambling in New Jersey is starting to ramp up significantly, with January revenues coming in at $9.46 million – a 28 percent rise over December, the first full month that state residents and visitors could gamble online.
 
On the land side, Atlantic City casinos took another knock, with revenues down 9.2 percent to
$186.3 million from a year earlier, the state Division of Gaming Enforcement reported.
 
Six land casino operators in Atlantic City are offering online betting, and most have accepted that the new genre will take time to ramp up to substantial levels. For now the consensus appears to be that progress is encouraging and the new business has good potential.
 
The DGE reports that at the end of January there were 197,782 Internet gaming accounts established in New Jersey since play began on November 21 as gamblers continue to sign up.
 
Borgata Casino Hotel & Spa, continued to lead the online gambling operators presently offering online wagering, with $3.9 million in revenue or about 41 percent of the market. Borgata is owned by MGM Resorts International and Boyd Gaming Corp. who are in partnership with Bwin.Party Digital Entertainment.
 
Caesars and online partner 888 was in second place with $3 million in online revenue.
 
Keith Smith, president of Boyd Gaming, which owns half the Borgata, reiterated that online gambling had again brought new customers to the Borgata rather than cannibalising existing business.
 
"These results also once again demonstrate online gaming's potential to expand our business," he told the Associated Press news agency.
 
"About 85 percent of our online players have not had rated play at Borgata in at least two years, showing there is little overlap with our land-based business. Online gaming is growing our database, creating a long-term opportunity to market Borgata to an entirely new group of customers."
 
The Borgata has 41 percent of New Jersey's online market, but Caesars Interactive reduced the gap  in January, increasing its online revenue by 49 percent.
 
Seth Palansky, a spokesman for Caesars Interactive said, "We saw huge growth in online casino revenue, and significant growth in poker revenue, too. We started marketing in earnest in January, and the promotions we offered our customers really seemed to resonate well. We're very encouraged on how the New Jersey market is performing for us across all three of our brands, CaesarsCasino.com, Harrahscasino.com and WSOP.com."
 
AP reports that the other Internet gambling providers continued to lag behind in January. The Trump Taj Mahal, with its Ultimate Casino brand, took in $858,351, placing it slightly ahead of the Tropicana Casino and Resort, with its Virgin and Tropicana brand sites, which took in $841,065 for the month.
 
Trump Plaza Hotel and Casino and its Betfair brand won $557,007 online in January, and the Golden Nugget Atlantic City, with its self-branded site, won $286,922 online.
 
The $9.5 million in online gambling revenues in January produced $1.4 million in state taxes, based on the state’s 15 percent internet gross revenue tax.
 
When combined with revenues collected since late November -— when New Jersey became the third U.S. state to offer online casino gambling — the state treasury is on a pace to collect roughly $10 million in tax revenues from Internet gambling by the end of the fiscal year in June.



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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