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Compliance Updates

Gaming shows growth in NJ

Published

8 years ago

on


focusgn.com
Reading Time: < 1 minute

There is a healthy growth for the online gaming industry in the State of New Jersey, with new businesses, services and regulated platforms becoming available for local players, according to a report published by the New Jersey Division of Gaming Enforcement. The State’s iGaming revenue touched €203.7 million last year, maintaining the yearly increase for the fourth straight year.

Online gaming platforms are operated by land-based casino operators that hold approved gaming licenses in the state. iGaming regulation has boosted current land-based casino operator’s revenue following years of crisis due to financial failures in Atlantic City, with the governmental report revealing that the online gaming industry grew 12.92 percent last year.

“The 2017 results for New Jersey’s legal online gambling industry gave us new high-water marks for the industry, which has been the rule rather than the exception since it was regulated in 2013,” said Chris Grove, a gambling industry expert who authored the report for NJOnlineCasino titled: “2017 Year In Review: The Performance Of New Jersey’s Legal Online Casinos”.

“More importantly, online gambling continued to buoy Atlantic City. It’s clear that regulated online casino and poker sites are a maturing industry that will benefit New Jersey’s economy for years to come,” continued the statement.

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