Online casino revenues increase in New Jersey, while land-based casinos remain steady

New Jersey’s Division of Gaming Enforcement has published the latest financial results for the month of October. It reveals clear trends. Online casinos are increasing their revenues, while land-based casinos remain steady.

There has been a 30 per cent rise of online casinos’ revenues year on year. The total revenue rose to $26.8m.

The state’s overall online gaming revenue for the year till October reached $242.7m. The Golden Nugget led the revenue march, posting a 57.6 per cent rise to touch a revenue figure of $9.6m, ahead of which generated a revenue of $4.3m.

New entrants Hard Rock and Ocean Resort fared assuredly. Hard Rock posted $1m online revenue, while Ocean Resort amassed $595,293.

The land-based casinos in the state could not match their online counterparts in October in terms of revenue rise. The land-based casinos registered an 8 per cent growth to touch a monthly revenue of $200m.

The revenues of some of the major casinos, Harrah’s, Caesars, Hard Rock Hotel Casino and Ocean Resort, dropped. Another premier casino, Tropicana, registered a rise in revenue.

Borgata remained the market leader with $50.7m, in spite of an 8.1 per cent dip in revenue year on year.