Although NJ is facing revenue declines, the earnings of online casinos are still rising
Despite the revenue of terrestrial casinos in all countries declining badly, New Jersey-based online casinos are now flourishing. Case in point: Atlantic City casinos revenues declined sharply in 2016, while New Jersey’s online casinos revenues actually increased.
After the end of every month, the Division of Gaming Enforcement in New Jersey releases its gross revenue income. Quite a few numbers of online casinos in New Jersey operate multiple online brands. As soon as they launch one successful app, they start planning the next one. So the numbers reflected below are not based on a single casino brand, but instead from dozens of apps that each of the brands manage.
Let us look at the revenues earned and taxes paid by few of the online game brands for the month of January 2017.
By looking at the above figure you must have got an idea about the revenues earned by New Jersey through online gambling. These figures don't include the real life casinos’ earnings. Clearly, these casinos have become a good source of revenue to government of New Jersey. $2,820,921 in one month isn't a laughing matter.
In January 2017, BetfairCasino.com emerged as the leader of online gambling market with total industry revenue of $4,776,218. Total gambling revenue had been increased by approx 2.4% as compared to December 2016’s total revenue of $ 18,382,444.
It seems like revenue via online gambling is only on it's way up. Every months the earnings seem to increase based on the New Jersey revenue figures.
Last year in 2016, every month increased over the previous month.
Though the current trend shows high percentage growth in online gambling revenue each month, at some point, with the casinos making new brands every month, there may be no space for new brands to enter. Already, these New Jersey based casinos are on the verge of full saturation, where achieving substantial growth in a crowded market will be difficult.