iGaming industry boosts NJ revenue

The iGaming sector in New Jersey has grown 32 percent last year.
The iGaming sector in New Jersey has grown 32 percent last year.

Online casinos in New Jersey have reported excellent results for 2016 revenue.

US.- New Jersey gambling regulators have issued the reports from 2016 on the iGaming sector. Online casinos revenue in the State, better known for its gaming hub Atlantic City, have grown 32 percent to US$196.7 million during 2016, which represents an increase of 1.5 percent year-to-year.

As online casino platforms are delivered by the same authorised land-based gaming companies in New Jersey, the record breaking result for last year’s performance has helped boost the complete gaming industry in the State. “There’s a lot of good news here. We have some stronger casinos now, and internet gambling continues to increase. The hope is we’re entering a stable environment now,” commented Matthew B. Levinson, chairman and chief executive officer at New Jersey Casino Control Commission.

iGaming companies in New Jersey have generated US$2.6 billion in 2016. The State has not reported net incomes for casino industry since 2006, and due to the major economic crisis in Atlantic City, five casinos shut down their doors in the past years.

However, only Harrah’s reported a decline of 4.3 percent to US$358 million, as well as Caesars with a 2.7 percent down to US$302 million in their complete operations (including slots, table games and iGaming services) in 2016.