Thursday January 15,2015 : LATEST FIGURES FROM NEW JERSEY REGULATORS

Beats expectation

The New Jersey Division of Gambling Enforcement (NJDGE) reported a 4.5 percent decline in annual revenue to $2.74 billion from its combined Atlantic City and online gambling operations.

The figures have beaten expectations considering the closure of four of the City’s twelve terrestrial casinos but indicated a 48 percent decline from its boom days in 2006.

Revenue gain’s was posted by six of the remaining eight terrestrial casinos as they absorbed patrons of the shuttered casinos.

"It's an absolutely remarkable result for a year that saw so much tumult in the gaming market," Israel Posner, executive director of the Lloyd D. Levenson Institute of Gaming Hospitality and Tourism at Stockton College told Reuters.

Online gambling revenues totalled $123 million in its first full year of reporting with the Borgata/Party partnership holding a 36 percent share of that figure.