The online casino industry in New Jersey is a magnet for business, as seen by the consistently record-breaking numbers that have been produced over the course of the last few years. Despite the fact that February saw a little drop in the rate at which businesses turned over their inventory when compared with the turnover seen in the first month of 2019, even the slower February still constituted a record month.
The official statistics for the month of February were just released by the New Jersey Division of Gaming Enforcement last week. These results revealed a 5.5% decrease in revenue income when compared with the previous month’s totals. However, despite the fact that there was a tiny decline, the organization reported that it was still record figures all around, with revenues from online casinos totaling $29.94 million for the month and profits from online poker being $1.81 million.
Golden Nugget Still Leads The Pack
The Golden Nugget Casino company maintains its position as the industry leader. The Betfair Casino and the Sugarhouse Online Casino are both well-known examples of the group’s successful operator brands. FanDuel Sportsbook played a significant role in preparing the groundwork for Betfair’s outstanding achievement, and the combined gross revenue of the two operators for the second month of the year was a remarkable $10.70.
Resorts Digital Gaming was right on the heels of the Golden Nugget Casino group in terms of performance. The Resorts Digital Gaming group is comprised of a number of different online gambling websites, including Resorts Online Casino, PokerStars Casino, DraftKings, and Mohegan Sun Online Casino.
The resort industry was able to generate $6.66 million in gross income during the month of February.
Rich Migliorisi, Managing Director at Bonusseeker.com, stated that the little fall in the market should not be reason contributing towards any concern, for anyone. He made this statement in response to a question on whether or not anyone should be concerned about the decline. Migliorisi stated both online and land-based casinos, as well as mobile apps for sports betting, still managed to perform above and beyond expectations. He also stated that everyone had anticipated a decline in revenue from online sports betting regardless of the outcome of the Super Bowl.
Furthermore, according to the MD, newcomers into the market, such as PointsBet Sportsbook, had absolutely nothing to worry about, as there were many other market markers indicating that the online sports betting scene was in fact actually healthy, flourishing, and even booming. The slowdown that was caused by the result of the Super Bowl was the only thing that caused concern for the newcomers.
The remainder of the year is likely to be filled with many occasions to celebrate, but otherwise it should proceed as normally as possible.