ï»¿Nj iGaming: Do Falling Profits Give Cause for Pause for Online’s Future into the Garden State?
New Jersey iGaming is struggling, despite initially dazzling projections from their state’s Governor Chris Christie.
Is brand New Jersey iGaming in some trouble? That’s the worrying question numerous people are now asking following the latest round of financial reports.
The first piece of news to rock the gaming industry in the Garden State was that Atlantic City’s brick-and-mortar venues had experienced a year-on-year revenue drop.
Comparing 2014’s October take to 2015’s figures, the resort town’s system of live casinos made $197.7 million in the former, compared to $191.6 million in the latter.
This disparity represented a 3.1 % decrease and a potential indication that the city isn’t that great regeneration many had envisioned.
Poker’s Poor Performance
Adding to this disappointment ended up being the revelation that online poker additionally hit a stumbling block in October.
Looking specifically at those numbers, October 2015 was a thirty days that returned 8 % more income than the state’s operators created in September 2015 ($1,913,403 vs. $1,771,123).
Nonetheless, while this news was an optimistic, it absolutely was tinged with another wave of disappointment after it became clear that the latest month of operation represented a 2.8 percent year-on-year drop.
In October 2014, nj’s collective of online poker sites banked $1,967,905. In contrast, 2015’s combined revenue amounted to $ […]