New Jersey’s online gambling industry and it's top operators enjoyed a booming year of growth in 2017 with a recorded revenue of $245.6 million across the state. Coming into 2018 hot, the Garden State has maintained its momentum with a record-setting first month according to recently released monthly results.
The industry pulled in a record $21.96 million pushing it up $3.14 million, a near 17% increase, over last year’s January numbers. January 2018 marked the 11th straight month online casino and poker revenue has topped $20 million in New Jersey. Such trends point to the potential for online gambling’s lifetime revenue to reach the $1 billion mark this year.
Golden Nugget leads the way by a landslide racking up over $7 million, with second-place Borgata far behind at around $4 million. Golden Nugget racked up $68.5 million in revenue in 2017, a 62.3 percent increase from 2016, according to a new study.
A recent report details Golden Nugget’s dominance and record-setting pace, and growing stature continues to speak volumes towards the potential viability of the online gambling market in the U.S. The report touted Golden Nugget’s advanced techniques in available payment options including PayPal and the bolstering of Play SugarHouse, an online casino that employs social media tactics to enhance customer experience.
“To say that Golden Nugget had a dominant year easily qualifies as an understatement,” the report said. “What the operator managed in 2017 would serve well as the blueprint for existing and yet-to-be launched online casino sites in the U.S. regulated space.”
Borgata, no slouch in its own right, boasts the largest potential slots jackpot in the entire state. The Big Series progressive has eclipsed $2,285,536 and is tied to slot games Loot’EnKhamun, Melon Madness, Biker Pigs, Going Nuts. a few of the most popular slot games on the market at the moment.
The credit for growth across the board of the industry can be given to the efforts to increase the number of slot game options and a growing number of formats for potential gamers to participate in. With the increase in selections available to consumers some interesting results appear.
Poker revenue is surprisingly down 16 percent from last January, but with such a benchmark game struggling the overall increased success of the business appears all the more impressive. While reports in December initially speculated that online gambling in New Jersey’s exponential financial growth wouldn’t repeat itself this year, January’s results leave plenty of reason for optimism.
The continued success of the industry has prompted movements from other states to get online gambling off the ground, as Pennsylvania is set to launch its own venture into the field later this year. Still other states are taking a direct approach with legislation attacking federal and state regulations on sports betting. As gambling becomes an increasingly viable business outside Nevada, the movement should only increase in popularity.