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NJ Online Gambling Market Grows 9 Percent
Thursday March 13,2014 : NEW JERSEY ONLINE GAMBLING MARKET GROWS
But more slowly...with poker down 10 percent in February.
The New Jersey online gambling market grew 9 percent in February, albeit at a slower rate than the preceding month, and with a 10 percent drop in poker revenues, the New Jersey Division of Gaming Enforcement announced Wednesday.
The market is now in its third month of operation, with a quarter of a million online gambler registrations reported by the operators. Caesars Entertainment-888 (47 percent) and Bwin-Borgata (50 percent) continue to dominate in the new sector.
The Borgata-Bwin partnership 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, whilst 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 Republic newspaper reports that the 16 Atlantic City online gambling sites posted a 28 percent gain in revenues in January 2014, to $9.5 million. In February 2014, the online sites won $10.3 million.
Brian Mattingly, CEO of 888 Holdings, said he was pleased with the continued growth thus far.
"We are delighted with the way it has started," he said. "All of us got into a good rhythm and started some good marketing. Overall, I'm delighted with where we're at."
Including their online gambling operations, Atlantic City's 11 land casinos overall gambling win continues to decline, down 1.4 percent y-o-y to $209.4 million in February. Online gambling activity helped to contain the decline at that level.
Keith Smith, CEO of Boyd Gaming, said: "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. Looking ahead, we continue to see significant opportunities for future growth in New Jersey as we refine and enhance our online product."
So far for the year 2014, 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.
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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