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Two months ago, regulators gave the go-ahead for six New Jersey casinos to begin offering gambling over the internet to patrons across the state, but recent figures have been well wide of projections, causing concern that the industry might be a non-starter without additional legislation and technical improvements.
Bally’s Atlantic City; the Borgata Hotel Casino & Spa; Caesars Atlantic City; the Tropicana Casino and Resort; the Trump Plaza Hotel, and the Trump Taj Mahal Casino were the first six venues to be approved.
There were initial teething problems when it came to technology behind the online systems, and a variety of different marketing attitudes, but there are now more than 150,000 accounts registered. It should be noted that individuals are likely to hold more than one account.
However, two weeks ago, the first lot of data was released by the state, which shows a disappointing trend for New Jersey’s gambling industry. Despite the extra income from the online offerings, year-on-year figures for gambling as a whole in December were down.
Online revenue for the first five weeks, including the soft launch, came in at $8.4 million, and had been predicted to boast a gross gaming yield of more than $10 million. The state forecast for the fiscal year was $1.2 billion. This is clearly far lower thanhad been hoped, even taking the soft launch and data into account, and despite increasing consumer sentiment.
Of the 8.4 figure, approximately 40 percent came from online poker.
Read entire article here.
Bally’s Atlantic City; the Borgata Hotel Casino & Spa; Caesars Atlantic City; the Tropicana Casino and Resort; the Trump Plaza Hotel, and the Trump Taj Mahal Casino were the first six venues to be approved.
There were initial teething problems when it came to technology behind the online systems, and a variety of different marketing attitudes, but there are now more than 150,000 accounts registered. It should be noted that individuals are likely to hold more than one account.
However, two weeks ago, the first lot of data was released by the state, which shows a disappointing trend for New Jersey’s gambling industry. Despite the extra income from the online offerings, year-on-year figures for gambling as a whole in December were down.
Online revenue for the first five weeks, including the soft launch, came in at $8.4 million, and had been predicted to boast a gross gaming yield of more than $10 million. The state forecast for the fiscal year was $1.2 billion. This is clearly far lower thanhad been hoped, even taking the soft launch and data into account, and despite increasing consumer sentiment.
Of the 8.4 figure, approximately 40 percent came from online poker.
Read entire article here.