Gaming industry analysts issued a report a few weeks ago that showed the state of New Jersey should see an increase in online gaming revenues for 2017 by 17%. The report included information about the online poker industry, which has continued to struggle, despite the success of online casino gaming for the state. Online poker is estimated to see a 6% decline.
Research firm Eilers and Krejcik Gaming analysts Chris Grove and Adam Krejcik released the report to the public which stated that the online gambling market in New Jersey continues to see the Golden Nugget, Borgata, Tropicana and Resorts taking charge and leading the industry. The study revealed that an increase in integration between online and live casino gaming seems to have driven additional play to take place along with visitation at land-based properties.
In the past, casino operators in Atlantic City were afraid to embrace the industry, not wanting to offer online blackjack or poker gaming as they felt it would cannibalize revenues from the brick-and-mortar properties. However, research has shown that there is less overlap between the two types of gamblers than what was previously believed.
The analysts have reported that revenue may have hit a wall but there is optimism to be found as both Pennsylvania and New York look to legalize online gaming in 2017. The passage of legislation within these two states could create a domino effect and lead to several states joining the fray.
According to Krejcik and Grove, the New Jersey neighboring states could help with online poker revenues as New Jersey would be able to create multi-state compacts with others to create a mass amount of players to take part in the poker gaming options. The game of poker requires steady traffic as it is a peer-to-peer game.
For now, online casino gaming reigns supreme in the state, while poker falls behind. The Golden Nugget was able to see a 36% percent increase in revenues from iGaming, earning a total of $42.3 million last year. The Borgata earned a total of $37.8 million which was a 16% increase. The Tropicana earned $37 million as well with a 13% increase in earnings for the year.
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