New Jersey’s gambling industry is currently booming both online and offline according to the latest news and numbers. The state’s unique status as one of the few locations where online gambling is legal is allowing New Jersey to post big profits in 2018 which only provides more evidence to financial benefits a state can see from legalization.
Additionally, Atlantic City’s casino family is about to get bigger as the new Hard Rock Hotel and Casino announced a launch date this week. With all of that on top of the potential for a Supreme Court ruling that could legalize sports betting, the Garden State is solidifying its status as a gambling mecca in the United States.
While Pennsylvania is currently in the process of preparing and licensing casinos for the passing of possible internet gaming legislation, New Jersey remains one of the few places it can be practiced. Web surfers can play bet real money on a huge variety of online slots , online poker and other classic table games like roulette.
The month of March continued positive trends for New Jersey’s internet gambling business according the latest numbers released by the New Jersey Division of Gaming Enforcement. While January and February represented more gradual development, March showed rapid growth.
The total of $25,580,210 was the largest yet monthly addition to the running total of $792 million accrued over four and a half years of business. With $63,844,613 already in the bank this year, the potential of passing the billion-dollar watermark is a real possibility by the end of 2018. Online poker played a bigger role than usual with a 10.9-percent increase displayed in its $1,966,366.
The state had never garnered over $22 million in total revenue prior March where it exceeded the $25 million-mark. Golden Nugget continued to lead the way with $8,655,240 through its three main online operators Golden Nugget Casino, SugarHouse and Betfair Casino. Golden Nugget was followed by Borgata with $4,583,234, Caesars with $4,412,034, Resorts with $4,234,904 and Tropicana with $3,694,798.
Borgata still holds the biggest all-time market share of New Jersey’s internet casino industry with 25.9 percent, but Golden Nugget is quickly catching up and currently sits in second place with 22.7 percent. Caesars follows with 20.6 percent then Tropicana with 18.7 percent and finally Resorts with 12 percent.
The state has stood to benefit immensely from the emergent internet gaming market, as significant tax figures have been recorded. As of now over $138.6 million has been collected by the state government and a projected 44.7 million is expected to be brought in by the end of this year.
Feeding into the good vibrations in New Jersey, the highly anticipated Hard Rock Casino in Atlantic City will be announcing its opening. The big reveal of both opening day and the resort’s first musical lineup will be next Wednesday, April 18 at 11 AM as part of a grand three-city announcement in Atlantic City, Philadelphia and New York.
Located on the site of the former Trump Taj Mahal, casino resort is right on schedule and expected to make its summer deadline for opening. No one obviously knows for certain but Spoiler Alert: the indications and rumors point to late June of this year as the big day.
With over $500 million in renovations invested into the property and a wildly successful recognizable name brand, the casino will no doubt be a fantastic addition to the legendary AC gambling scene. With museum quality rock n’ roll memorabilia to top notch venues and music entertainment to come, we can’t wait for Wednesday.